optimization News — GMK Center

Thyssenkrupp plans to spin off its materials trading division

Masha Malonog — Wed, 17 Jun 2026 07:03:50 +0000

The German industrial conglomerate Thyssenkrupp plans to spin off its materials trading division, tk accelis (formerly Thyssenkrupp Materials Services, TKMS). This is stated in a company announcement. The decision is due to be approved at an extraordinary general meeting of shareholders on 7 August. It is planned to list tk accelis shares on the Frankfurt […]

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ArcelorMittal plans to cut jobs in Luxembourg

Masha Malonog — Tue, 24 Mar 2026 10:13:34 +0000

Global steel producer ArcelorMittal plans to reduce its workforce in Luxembourg, according to Paperjam. Late last week, a new agreement titled “Lux2029” was signed between the government, the company, and the LCGB and OGBL labor unions — negotiations had been ongoing since October of last year. The agreement provides for a reduction in the workforce […]

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ArcelorMittal Kryvyi Rih has permanently ceased production at its blooming mill

Masha Malonog — Mon, 16 Mar 2026 15:32:18 +0000

On March 11, PJSC ArcelorMittal Kryvyi Rih completed its final production campaign in the blooming shop—all planned operations there have been fully carried out. This is stated in the company’s press release. The steel mill produced the entire required volume of billets in this shop ahead of schedule, creating a sufficient stock for further processing—approximately […]

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Thyssenkrupp estimates restructuring costs at several hundred million euros

Masha Malonog — Wed, 03 Dec 2025 13:40:40 +0000

Marie Jarony, head of Thyssenkrupp’s steel division, estimates that the restructuring agreement, which involves cutting or outsourcing around 11,000 jobs, will cost the company hundreds of millions of euros. She said this in an interview with Frankfurter Allgemeine Zeitung, Reuters reports. “The exact amount depends on how many employees accept one offer or another,” Jarony […]

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Nippon Steel to merge three pipe subsidiaries to optimize operations

Masha Malonog — Tue, 07 Oct 2025 08:13:01 +0000

Japanese steel company Nippon Steel has announced plans to merge three subsidiaries: Nittetsu Katakura Steel Tube, Tsurumi Steel Tube, and Nippon Steel Fine Tube. The aim of this move is to respond to structural changes in the market. The three companies supply a wide range of steel pipes for the automotive, construction, and industrial equipment […]

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Nissan to close seven plants and cut 20 thousand jobs

Masha Malonog — Wed, 14 May 2025 08:51:54 +0000

Following the announcement of disastrous annual results, Japanese automaker Nissan Motor Co will close seven plants as part of a large-scale restructuring plan, leading to the loss of 20,000 jobs worldwide. This is stated in the company’s message. In the 2024/2025 fiscal year (ended March 31, 2025), Nissan’s operating profit decreased by 87.7% year-on-year due […]

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Thyssenkrupp Steel and IG Metall reach agreement in principle on restructuring

Masha Malonog — Thu, 08 May 2025 10:20:36 +0000

Thyssenkrupp’s steel division has announced that it has reached an agreement in principle with the IG Metall trade union on its planned restructuring. Further negotiations are expected to result in a collective bargaining agreement by summer 2025. The basis for this is the industrial concept presented by the company’s management board at the end of […]

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Hyundai Steel steps up cost-saving measures amid US tariffs and competition

Masha Malonog — Fri, 14 Mar 2025 10:09:58 +0000

South Korea’s Hyundai Steel, a subsidiary of automakers Hyundai Motor and Kia, has declared a state of emergency. The company is stepping up cost-saving measures amid US tariffs on steel and aluminum and declining profitability due to growing competition in the domestic market from Chinese and Japanese manufacturers, The KoreaTimes reports. In particular, the company […]

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Salzgitter and Thyssenkrupp are looking to sell their stake in Hüttenwerke Krupp-Mannesmann

Masha Malonog — Fri, 16 Aug 2024 12:33:05 +0000

German steelmaker Salzgitter has said it has no intention of fully buying and operating Hüttenwerke Krupp-Mannesmann (HKM), a joint venture between the company, Thyssenkrupp Steel and French pipe maker Vallourec in Duisburg. This is reported by SteelOrbis. Salzgitter, according to a statement published on the Frankfurt Stock Exchange, intends to sell its stake in HKM. […]

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