Salzgitter AG Plans to Continue Operating HKM

Following intensive negotiations and with the mediation of the former Minister President of Hesse, Roland Koch, thyssenkrupp Steel and Salzgitter AG have reached an agreement on the continued operation of HKM. Under the plan, thyssenkrupp Steel will sell its shares in HKM to Salzgitter AG effective June 01, 2026. Supplies from HKM to thyssenkrupp Steel will terminate at the end of 2028, instead of at the end of 2032 as previously envisaged. It has been agreed that the financial details of the unbundling of the existing contractual relationships agreed in the key issues paper will not be disclosed.

Implementation of the agreement is subject to the approval of the governing bodies of Salzgitter AG and a positive assessment of a going concern report, which Salzgitter AG has already commissioned. A further prerequisite is that the third owner, Vallourec S. A., also agrees to sell its shares to Salzgitter AG.

Gunnar Groebler, CEO Salzgitter AG: "This agreement is an important milestone and brings us a good step closer to establishing a sound industrial future for HKM. It creates clarity for everyone involved in this process, while offering HKM's workforce a positive perspective. HKM will thus become part of the process of transforming to low-CO₂ steel production in the Salzgitter Group. We would like to thank everyone involved for the constructive negotiations and their support during the process."

Marie Jaroni, CEO of thyssenkrupp Steel: "The agreement represents an important milestone for the further implementation of our industrial concept, thus setting thyssenkrupp Steel on an even keel as we move into the future. With this agreement, we have succeeded in achieving a fair and viable solution for all parties concerned. We are thus fulfilling our responsibility both toward thyssenkrupp Steel as a whole and for the workforce of HKM."

thyssenkrupp Steel is a manufacturers of flat carbon steel and stands for innovations in steel and high-quality products for advanced and demanding applications. Steel employs around 26,000 people and is Germany's biggest flat steel producer, producing around 8.7 to 9 M t of crude steel a year. Its range of services extends from customer-specific material solutions to material-related services.

As a pioneer in climate transformation, thyssenkrupp Steel has set itself the goal of reducing its CO₂ emissions by at least 30 % as early as 2030. By 2045, steel production is planned to be completely carbon-neutral.

(Source: thyssenkrupp Steel)