Hüttenwerke-Krupp Mannesmann (HKM), the largest steel mill in the Duisburg complex, could soon be up for sale. This development comes as thyssenkrupp Steel (tk Steel), the largest stakeholder with a 50% share, along with Salzgitter (30%) and Vallourec (20%), explore potential shifts in ownership.
The French pipemaking group Vallourec has been considering withdrawing from HKM since closing its last German plant last year. In March, Salzgitter expressed interest in acquiring Vallourec’s stake, signaling a potential shift in the ownership structure of HKM.
Moreover, tk Steel recently announced plans for a long-term reduction in steel capacity at its plants. Although HKM was not directly mentioned in this announcement, separating from HKM could align with tk Steel’s restructuring strategy. Additionally, this move could facilitate the spin-off of 50% of tk Steel to the Czech group EP.
Currently, the three stakeholders are engaged in discussions following an approach by an interested buyer. In a statement to Kallanish, tk Steel confirmed the approach and emphasized that while the dialogue is ongoing, it does not necessarily indicate a predetermined outcome. The companies are committed to considering their responsibilities towards the workforce during this process.
