Thyssenkrupp to Shut Electrical Steel Plants, Warns of Potential Job Losses

Deep News12-11

Thyssenkrupp announced it will close part of its electrical steel production facilities and reduce output due to low-priced imports flooding the European market.

The German industrial conglomerate stated on Thursday that up to 1,200 jobs in Germany and France could be at risk if stronger protections for European-produced steel are not implemented.

Thyssenkrupp Electrical Steel revealed that its plants in Gelsenkirchen, Germany, and Isbergues, France, will be temporarily shut down from mid-December until year-end. Starting in January, the Isbergues facility will operate at just 50% of total capacity for at least four months.

The company attributed these measures to the disruptive influx of low-cost imports distorting Europe’s steel market, with particularly severe pressure from Asian suppliers.

Electrical steel is a core component in power grids, enabling electricity transmission from generation plants to households.

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