The IG Metall union intends to negotiate with the Thyssenkrupp board regarding the potential spin-off of the steel division. Jürgen Kerner, the second vice chairman of IG Metall, told the WAZ that he is calling upon Miguel Lopez and the board to negotiate the independence of the steel operations at equal levels. Kerner stated, “We are ready to pursue this path with the employees”. Furthermore, Kerner, who also serves as deputy chairman of the Thyssenkrupp Supervisory Board, added that the current environment is favorable, partly due to political backing.
Thyssenkrupp CEO Lopez had previously reaffirmed, following preliminary discussions with the Indian industrial family Jindal about a sale of the steel division, that the Thyssenkrupp board’s goal remains to exit the steel sector by the majority. Kerner pointed out that over the last ten years, they have sought to discuss all options for Thyssenkrupp’s steel business, involving every industrial partner and every possible owner. He added, “Now, I believe, is the time to say: We will establish the steel division as an independent company ourselves”.
When approached by the WAZ, Thyssenkrupp management declined to comment directly on the IG Metall’s initiative, instead referencing a recent statement from Lopez and steel division head Marie Jaroni. In that report, it was noted that the more consistently Thyssenkrupp Steel pursues its set course, the more attractive the company will become for investors and the capital market.
