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Peter Altmaier during a visit to a Thyssenkrupp steelworks in Duisburg
Photo: Jonas Güttler / dpa
Federal Minister of Economics Peter Altmaier (CDU) rejects the state's entry into Germany's largest steel manufacturer Thyssenkrupp.
Altmaier said he didn't think nationalization was the right answer right now.
The problems of the steel industry cannot be solved primarily with state participation.
Altmaier affirmed, however, that the state would financially support the steel industry in its transition to "green steel".
Investment decisions by companies are necessary for this.
IG Metall had previously called for the state to join Thyssenkrupp.
"Thyssenkrupp Steel cannot do it alone," said IG Metall chief cashier Jürgen Kerner.
The steel division was on the right track before the corona crisis.
However, the losses caused by the crisis would have thrown the bill.
There is a massive outflow of liquidity.
The state must secure liquidity, so Kerner.
As for the size of the participation and the precise structure, IG Metall did not provide any information.
Laschet also against entry into the state
NRW Prime Minister Armin Laschet had also stated that he currently saw no reason to join the Essen-based company.
The main thing is to help Thyssenkrupp switch to hydrogen-powered steel production.
They want to support the company in its "substance".
"That is why state investments are currently not on the agenda," said Laschet.
Thyssenkrupp wants to keep several options open.
"In order to do justice to the specific market situation for steel and to counter the effects of Corona, we are currently working on adjustments in the implementation of the steel strategy 20-30," said a spokesman.
This also included further cost reductions.
The primary goal remains to make the steel business fit for the future.
For the transformation to climate-neutral production, however, appropriate political framework conditions and state support are needed, said the spokesman.
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bah / dpa / Reuters
