Salzgitter takes legal action against Thyssenkrupp over HKM joint venture
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Salzgitter has filed an arbitration claim against Thyssenkrupp over their HKM steel joint venture, seeking clarity on future financial obligations. Thyssenkrupp aims to streamline its steel business amid competition, considering selling or closing HKM. Salzgitter may continue HKM with reduced capacity and staffing, possibly taking over entirely. Thyssenkrupp must clarify purchase volumes and contribute to downsizing costs. Subsidies and state guarantees are under discussion. Thyssenkrupp has set provisions for HKM, while its CEO views legal action as unhelpful.
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