Thyssenkrupp’s home state confident deal can be reached over Tata Steel
Frankfurt/Düsseldorf — North Rhine-Westphalia, Germany’s most populous state and home to Thyssenkrupp, said on Wednesday it was confident a deal between workers and management could be reached to push through a steel merger with Tata Steel. In September, Thyssenkrupp and India’s Tata Steel agreed to merge their European steel operations to create a business with revenues of €15bn, the second biggest steel maker on the continent after ArcelorMittal. Labour representatives have been fiercely opposed to the deal and have demonstrated against it, afraid that more steel jobs may have to go in the long term in addition to as many as 4,000 already announced as part of the deal. They are demanding guarantees for jobs and factories. Armin Laschet, premier of North Rhine-Westphalia, said he did not think supervisory board chairperson Ulrich Lehner would have to use his casting vote to push through the deal, adding those involved were trying to "find a solution everyone can say yes to in the e...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.