PRESS STATEMENT IG Metall calls for prompt talks on spinning off thyssenkrupp Steel without Jindal

As thyssenkrupp AG announced today, talks with Jindal Steel International regarding a stake in thyssenkrupp Steel Europe are to be put on hold. Jürgen Kerner, Second Chairman of IG Metall and Deputy Chairman of the Supervisory Board of thyssenkrupp AG, commented:

“Following the episode with investor Daniel Kretinsky, the planned acquisition by Jindal Steel International now threatens to become the next protracted stalemate. IG Metall therefore advocates a clean break and an end to the talks without any back doors. The ongoing uncertainty is taking a toll on the employees.

We share Mr. López’s analysis of the future prospects for thyssenkrupp Steel: The restructuring of the steel division based on the restructuring collective bargaining agreement reached with IG Metall will create an economically stable company.

I call on Mr. López and management to enter into talks with IG Metall without delay in order to develop a viable solution for the steel division to become self-sufficient on its own.

Steel is vital to industrial value creation in Europe. I am convinced that thyssenkrupp Steel has the strength to survive and thrive in the market on its own—provided the right conditions are in place.”

Further information and press photos of Jürgen Kerner