April 1, 2019 / 4:12 PM / a year ago

Salzgitter CEO eyes Thyssenkrupp-Tata Steel JV remedies

CEO Heinz Joerg Fuhrmann of German steel maker Salzgitter AG speaks to the media during the annual news conference in Salzgitter, Germany March 22, 2019. REUTERS/Fabian Bimmer

HANOVER, Germany/FRANKFURT (Reuters) - Salzgitter’s chief executive will look at any assets that Thyssenkrupp and India’s Tata Steel could divest as part of anti-trust remedies being offered to help their planned joint venture deal, he said on Monday.

Thyssenkrupp and Tata Steel made remedy proposals to the European Commission in an effort ahead of an April 1 deadline, to get a green light to create Europe’s second-largest steelmaker after ArcelorMittal, sources told Reuters on Monday.

“We would certainly look at it with interest,” Heinz Joerg Fuhrmann said on the sidelines of the Hanover industrial trade fair, adding that business in the first three months of the year had gone quite well.

The remedies include parts of Tata Steel’s packaging steel activities, sources told Reuters last month, which had been singled out as an area of concern, along with the automotive and electrical steel segments.

Separately, German business daily Handelsblatt said that Thyssenkrupp could also offer its Spanish hot-dip galvanising line Galmed SA as part of the proposed remedies.

Thyssenkrupp declined to comment.

Reporting by Jan Schwartz, Christoph Steitz and Tom Kaeckenhoff; Editing by Edward Taylor

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