Published by Global Banking & Finance Review®
Posted on March 21, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleSalzgitter's joint venture with Thyssenkrupp is uncertain after a buyer withdrew. Thyssenkrupp may close HKM if no buyer is found.
By Bernadette Hogg and Isabel Demetz
(Reuters) - German steel producer Salzgitter said on Friday it was too early to tell if its HKM joint venture with Thyssenkrupp and Vallourec would be closed, after a potential buyer dropped out in February.
Previously, German conglomerate Thyssenkrupp said HKM would have to be shuttered if no buyer is found.
"We are aware of Thyssenkrupp's thinking. That might be one scenario, but I think it's too early to say that is the future of HKM," Salzgitter CEO Gunnar Groebler said in a press conference to discuss full-year results on Friday.
If HKM were to close, a solution would have to be found as to where the material it produces would come from in future, Groebler added.
Salzgitter, which holds 30% of HKM, with Thyssenkrupp holding 50% and Vallourec 20%, in February said that no solution had been found to meet the interests of all stakeholders, including the stable continued supply of input material by HKM.
(Reporting by Bernadette Hogg and Isabel Demetz; editing by Richa Naidu)
The article discusses the uncertainty surrounding the future of Salzgitter's joint venture with Thyssenkrupp after a potential buyer withdrew.
Thyssenkrupp may shutter HKM if no buyer is found, but Salzgitter believes it's too early to confirm this outcome.
The stakeholders are Salzgitter, Thyssenkrupp, and Vallourec, holding 30%, 50%, and 20% respectively.
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