Thyssenkrupp seeks joint solution for Hüttenwerke Krupp-Mannesmann

German industrial group Thyssenkrupp has called on all shareholders to find a solution for Hüttenwerke Krupp-Mannesmann (HKM), Reuters reports.

This is a shared responsibility of the companies, said Thyssenkrupp CEO Miguel Lopez. The industrial conglomerate owns 50% of HKM’s shares, Salzgitter owns 30%, and French pipe manufacturer Vallourec owns 20%.

According to Kallanish, Thyssenkrupp Steel wants to exit HKM, while Salzgitter could potentially become the sole owner.

A serious point of contention appears to be Salzgitter’s lawsuit against Thyssenkrupp for approximately €1.6 billion, which is currently being heard in arbitration court. Lopez did not deny this point in his communication with the press, but declined to comment on the case. However, he noted that legal proceedings are not helping to resolve the issue.

If Thyssenkrupp transfers its stake to Salzgitter, the conglomerate will not terminate its obligations immediately but will participate in restructuring measures.

As a reminder, Thyssenkrupp expects its net loss to reach €800 million in the 2025/2026 financial year (ending September 30, 2026). The company’s forecasts are based, among other things, on the costs of restructuring its steel division, which the group is seeking to sell to India’s Jindal Steel – a final offer may be received from the latter after a comprehensive review.

As reported by GMK Center, according to estimates by Mari Jaroni, head of the group’s steel division, the restructuring agreement, which involves cutting or outsourcing approximately 11,000 jobs, will cost the company hundreds of millions of euros.