Thyssenkrupp plate mill sale fails, faces closure: reports

Thyssenkrupp (tk) will imminently shut its heavy plate plant in Duisburg, according to German media reports. This comes after talks with various parties have so far not resulted in a buyer being found for the unit.

The steelmaker’s press office did not respond before deadline to Kallanish requests for comment.

“This increases the likelihood that the heavy plate division, as agreed in the collective agreement, can be closed by 30 September of 2021 at the latest,” a tk employee was quoted as saying by the German Press Agency.

In response, Union IG Metall complained about a “…black day” for the steel industry in North Rhine-Westphalia (NRW). “The Covid-19 situation broke the neck of the sales process, which was carried out with great care,” IG Metall NRW district manager Knut Giesler told local media. “The current situation shows how urgently state participation is needed for thyssenkrupp’s steel division.”

The heavy plate plant, which employs about 800 employees, was earmarked for sale or closure under an ongoing asset review by the company, which is scheduled to release full-year results on 19 November.

The mill produces sheet for the construction industry, shipbuilding and pipelines, among other applications.