Thyssenkrupp Suspends Electrical Steel Production in France and Germany as Asian Imports Threaten 1,200 More Jobs
Thyssenkrupp Steel Europe is temporarily shutting down electrical steel production in France and Germany due to low-cost Asian competition, threatening 1,200 additional jobs and bringing total workforce cuts to 45% as the company struggles with import surges and restructuring challenges.
Insights:
Thyssenkrupp Steel Europe (TKSE), the continent's second-largest steelmaker, announced it will temporarily halt production of oriented electrical steel in France 
FR and Germany 
DE from mid-December through year-end, citing overwhelming competition from low-cost Asian imports that threaten an additional 1,200 jobs. The company's Isbergues facility in northern France will operate at half capacity starting in January for at least four months.
FR and Germany DE from mid-December through year-end, citing overwhelming competition from low-cost Asian imports that threaten an additional 1,200 jobs. The company's Isbergues facility in northern France will operate at half capacity starting in January for at least four months.The decision underscores the deepening crisis facing European steelmakers as global trade tensions push Chinese rivals to dump excess capacity on the continent at prices up to 25% below European producers, according to industry sources. TKSE is already eliminating or outsourcing 11,000 positions while navigating critical negotiations for a potential sale to India's Jindal Steel International. The additional 1,200 job cuts would bring total workforce reductions to approximately 45% of TKSE's employees, up from a previously announced 40%.
