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Germany - Latest news GMK Center

Photo – Volkswagen plans to cut 100,000 jobs and close factories
Volkswagen plans to cut 100,000 jobs and close factories

The car producer is considering the possibility of the biggest restructuring in its history

Photo – Germany increased its steel production by 7.3% y/y in May
Germany increased its steel production by 7.3% y/y in May

Compared with the previous month, the figure fell by 0.9%

Photo – Germany will only avoid a recession thanks to government spending — Bundesbank forecast
Germany will only avoid a recession thanks to government spending — Bundesbank forecast

According to the regulator’s estimates, government spending will boost economic growth by 1.3 percentage points by 2028

Photo – Salzgitter has secured its first major contract to supply green hydrogen
Salzgitter has secured its first major contract to supply green hydrogen

The volume of supplies is 10,000 tonnes of green hydrogen per year

Photo – Germany is investing €565 million in the transition to a circular economy
Germany is investing €565 million in the transition to a circular economy

German steelmakers backed the document but stressed the need to introduce monitoring of scrap exports

Photo – Worthington Steel has completed the acquisition of Klöeckner
Worthington Steel has completed the acquisition of Klöeckner

The American company expects this to expand its product portfolio and geographical presence

Photo – Railway disruptions pose risks for German steelmakers
Railway disruptions pose risks for German steelmakers

The current situation regarding the network upgrade is already affecting the industry

Photo – Worthington Steel has raised $1.4 billion to acquire Klöeckner
Worthington Steel has raised $1.4 billion to acquire Klöeckner

The company notes that all regulatory conditions for closing the deal have already been met

Photo – Germany’s steel industry is at a turning point – WV Stahl
Germany’s steel industry is at a turning point – WV Stahl

Stable framework conditions are necessary for investments in decarbonization and technological modernization

Photo – Germany increased steel production by 9.5% y/y in April
Germany increased steel production by 9.5% y/y in April

Compared to March, steel production fell by 3.3%

Photo – The European Commission has approved Germany’s €1.3 billion hydrogen initiative
The European Commission has approved Germany’s €1.3 billion hydrogen initiative

The program will support the construction of up to 1 GW of electrolysers and the production of renewable hydrogen

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