Salzgitter moves to take full ownership of HKM steel joint venture
Salzgitter plans to buy out its partners in the HKM steel venture by mid-2026. The move aims to end a dispute with Thyssenkrupp and secure 3,000 local jobs.
Insights:
Salzgitter announced today that it plans to buy out the co-owners of the steel joint venture HKM to become the company’s sole owner from mid-2026. The announcement also specified that HKM will sever its supply ties with Thyssenkrupp Steel Europe (TKSE) in 2028. This move is intended to resolve a multi-year ownership dispute over the loss-making joint venture, which employs approximately 3,000 people.
The transaction is positioned to address long-standing operational challenges at HKM . By consolidating ownership, Salzgitter seeks to streamline the management of the business, which is currently a joint venture involving Thyssenkrupp and the French firm Vallourec . The restructuring of the workforce, which consists of about 3,000 staff in Germany 
DE, is a central component of the transition to sole ownership by Salzgitter in mid-2026.
DE, is a central component of the transition to sole ownership by Salzgitter in mid-2026.
