German union IG Metall and the works council of thyssenkrupp Steel have together launched a so-called “fair and best-owner” agreement process for the sale of the company, Kallanish hears.
Germany’s largest steelmaker is the subject of takeover talks between parent thyssenkrupp AG and India’s Jindal group.
According to IG Metall, a fair and best-owner agreement is a way of providing safety for the steelmaker’s sites, employees, and their co-determination role on the supervisory board. This has been a traditional procedure for all of thyssenkrupp AG’s divestments in recent years, IG Metall notes.
“Our employees need reliability for the future,” says tk Steel’s shop chairman Tekin Nasikkol. “Our future owner must respect existing wage agreements and other agreements. With that I mean primarily the pledge to maintain jobs and sites until September 2030.”
The buyer candidate Jindal has been informed about the procedure, IG Metall says.
Christian Koehl Germany
