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7,000 German steel workers protest Thyssenkrupp-Tata merger plans

Europe
22.09.2017
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Duisburg, Germany (dpa) - About 7,000 steel workers took to the streets of the western German city of Bochum to protest merger plans between industrial giant Thyssenkrupp and Indian rival Tata Steel which will result in big job losses.

German union leaders have rejected the companies‘ plans to create Europe‘s second-largest steelmaker after ArcelorMittal, fearing that the job losses could be far more than the about 2,000 jobs at each group which has been projected by Thyssenkrupp and Tata.

Friday‘s protest action temporarily brought production to a standstill at the Thyssenkrupp steel plant in western Germany.

"It is about the future of steel in Germany," Labour Minister Andrea Nahles told the protesters, whose demonstration was taking place two days before Germany‘s national elections.

A member of the centre-left Social Democrats, Nahles called on Thyssenkrupp to produce "figures without any secrecy."

Under the merger deal announced on Wednesday, Tata and Thyssenkrupp will each hold a 50-per-cent stake in the planned new joint venture.

To be called Thyssenkrupp Tata Steel, the new group is to be based in the Netherlands.

The deal still has to be approved by the German company‘s supervisory board as well as European monopoly authorities.

However, the two sides hope to sign a contract to create the new group in early 2018.

 

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