The industrial conglomerate Thyssenkrupp is pressing ahead with its plans to transition to climate-friendly steel production.
"We are sticking to our plan to complete the first direct reduction plant in Duisburg--a clear commitment to the decarbonization of industry, to Germany as a location, and to climate protection," the company announced on Friday. On Thursday, rival ArcelorMittal had declared its multi-billion-euro plans to convert its Bremen and Eisenhüttenstadt plants to climate-friendly production at an end. ArcelorMittal cited the strained market situation and the lack of economic viability for CO2-reduced steel production as reasons for its decision.
(Reporting by Tom Käckenhoff. Edited by Olaf Brenner. For inquiries, please contact our editorial teams at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
