Statement by the Foundation on the occasion of the paused talks between thyssenkrupp AG and Jindal International Steel

thyssenkrupp Steel Europe has shown solid progress: the challenges that have been resolved, such as the conclusion of the social collective agreement and the takeover of HKM by Salzgitter, are the result of hard work. All parties involved – the Executive Boards led by Miguel López and Marie Jaroni, as well as the trade union and works councils – have made their contribution and deserve sincere thanks for this. As a result, the value of the steel business has increased significantly, and it is therefore only consequent that thyssenkrupp now intends to further develop the division while talks with Jindal Steel are paused. The strategy adopted by Miguel López three years ago to make the segments profitable and establish them as independent entities has proven successful. As an anchor shareholder, the Foundation supports the continued pursuit of this future-oriented course.