In the dispute at Thyssenkrupp over the financing of the steel subsidiary, IG Metall has sharply criticized the parent company and CEO Miguel Lopez.
“The company must stop insisting, against all logic and reason, on getting rid of the steel division as cheaply as possible,” demanded the union in a statement to employees of Thyssenkrupp Steel Europe, which was made available to the Reuters news agency on Sunday. The company, with Lopez at the helm, wants to make the steel division independent. It would then also have to ensure sufficient financing. The union stressed that there would be no talks about restructuring as long as financing was not secured in the long term. A solution was a long way off.
The supervisory board of the steel subsidiary, on which Lopez also sits, had not yet reached agreement on the financial requirements of the steel subsidiary on Friday. On Friday evening, steel supervisory board chairman Sigmar Gabriel reported that the steel board saw an additional financing requirement of 1.3 billion euros over and above the aid promised so far. A report should provide clarity. This could be available by the end of the year.
In a statement on Saturday, Lopez took aim at the Steel board, headed by steel boss Bernhard Osburg. “What we need now is a sober, realistic look into the future without hope and without whitewashing,” demanded the manager. The Steel Europe board must finally present a viable, solid and financially viable business plan for the reorientation of the steel division. Steel Europe’s financing needs for the next 24 months will be secured by Thyssenkrupp AG. Lopez is aiming for a 50:50 joint venture for the steel business with the energy holding company of Czech billionaire Daniel Kretinsky. He already holds 20 percent. He attended the supervisory board meeting.
(Report by Tom Käckenhoff, edited by Ralf Bode. If you have any questions, please contact our editorial team at [email protected])
