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MarketScreener Homepage  >  Equities  >  Xetra  >  Salzgitter AG    SZG   DE0006202005

SALZGITTER AG

(SZG)
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13.728 EUR   -1.13%
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Salzgitter : builds new hot dip galvanizing line

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07/11/2019 | 05:28am EDT
  • Qualitative growth in the strip steel business
  • Reinforcing of the premium segment for automotive customers
  • Contribution to securing Salzgitter as a steel location

Salzgitter Flachstahl GmbH (SZFG), a subsidiary of Salzgitter AG, has launched its 'Hot Dip Galvanizing 3' (FV3) project and one of its largest single investments of the last decade. The plant engineering SMS Group based in Düsseldorf is the company's project partner.

The new production facility, with an annual capacity of 500,000 tons, supplements SZFG's already existing hot dip galvanizing lines. 'This project is a key component in the strategy of the Salzgitter Group that focuses on qualitative growth for its strip steel business. It will help us strengthen our market position as a producer of premium products for national and international customers from the automotive industry. We have decided to make this investment, even though the political and social framework conditions for major industrial projects in Germany and Europe are currently going in an unfavorable direction,' explains Prof. Dr.-Ing. Heinz Jörg Fuhrmann, Chief Executive Officer of Salzgitter AG.

FV3 is due to become operational in 2022. Advanced-high strength steels for chassis and body applications that play an important role in lightweight automotive construction and in vehicle security are then to be produced.

Ulrich Grethe, member of the Group Management Board and CEO of SZFG's Management Board: 'At the same time, FV3 is also important for securing the sustainability of Salzgitter as a steel location and the jobs there, as this investment will enable us to further optimize our already high quality product portfolio.' The new facilities will produce hot-dip galvanized strips with thicknesses of between 0.7 and 2.5 millimeters and width of between 900 and 1,700 millimeters. The strip that is wound into coils has a maximum weight of 32 tons.

The production of high-strength and advanced-high strength steel grades is enabled through the very high cooling rates and the integration of an oxidization/reduction process in FV3's furnace. 'The range of materials will cover advanced-high strength dual-phase steels through to complex phase steels and on to quench and partitioning steels,' explains Dr.-Ing. Michael Brühl, General Manager of cold-rolled flat products at Salzgitter Flachstahl GmbH. The configuration of the facilities as a whole offers the structural and technical prerequisites for realizing further innovative materials concepts.

Disclaimer

Salzgitter AG published this content on 11 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2019 09:27:03 UTC

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Financials
Sales 2020 7 258 M 8 589 M 8 589 M
Net income 2020 -205 M -242 M -242 M
Net Debt 2020 523 M 619 M 619 M
P/E ratio 2020 -4,12x
Yield 2020 0,42%
Capitalization 751 M 886 M 889 M
EV / Sales 2020 0,18x
EV / Sales 2021 0,18x
Nbr of Employees 24 765
Free-Float 58,4%
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Mean consensus HOLD
Number of Analysts 15
Average target price 11,28 €
Last Close Price 13,89 €
Spread / Highest target 22,4%
Spread / Average Target -18,8%
Spread / Lowest Target -70,7%
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Managers
NameTitle
Heinz Jörg Fuhrmann Chairman-Executive Board & Chief Executive Officer
Heinz-Gerhard Wente Chairman-Supervisory Board
Burkhard Becker Chief Financial Officer
Uwe Kruse Chief Information Officer
Hasan Cakir Member-Supervisory Board
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