• Tuesday, May 24, 2022

Business

Merger with Tata Steel best solution, says ThyssenKrupp CEO

Confidence: Heinrich Hiesinger, CEO of ThyssenKrupp AG

By: Rithika Siddhartha

GERMAN heavy industry giant ThyssenKrupp today (23) defended its disputed merger with India’s Tata Steel, saying its restructuring plan and the tie-up would help to secure tens of thousands of jobs. The tie-up, announced end-September to form Europe’s second biggest steel works after ArcelorMittal, has sparked fears for 4,000 jobs in production and administration that hang in the balance. Thousands of workers, some holding up signs saying “We are the future”, today answered a call by metal works union IG Metall to protest at the group’s Andernach site in western Germany. Opposition: Thyssenkrupp steel workers, holding fake 500-euro banknotes, protest…

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