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German union leader says will fight for plants in Tata-Thyssen merger

Reuters  |  DUESSELDORF, Germany 

By Tom Käckenhoff

DUESSELDORF, (Reuters) - Thyssenkrupp's powerful chief said workers would resist shutting down capacity in any of the German industrial group's European steel business with that of peer Steel.

"We have capacities that are worth preserving, and we will fight for that," Wilhelm Segerath, who represents the works council on Thyssenkrupp's supervisory board, told Reuters in an interview on Tuesday.

"I don't see any strengthening (of Thyssenkrupp) through a with Tata," Segerath said, adding he would prefer a sale of Thyssenkrupp's steel plant in Brazil.

Steel-to-elevators group has been exploring a steel with in response to excess production capacity and a weak demand outlook.

Thyssenkrupp's works council, which represents 28,000 steelworkers, has made clear it will resist any move that could cost jobs or see the firm abandon its 200-year-old steelmaking roots.

Industry sources told Reuters on Monday that Steel and were looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales.

Earlier this month, a union source told Reuters that could close its defined-benefit pension scheme to future accruals as a way to cut the massive deficit that is the major stumbling block to a deal.

(Writing by Maria Sheahan; Editing by Keith Weir)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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German union leader says will fight for plants in Tata-Thyssen merger

DUESSELDORF, Germany (Reuters) - Thyssenkrupp's powerful labour chief said workers would resist shutting down capacity in any merger of the German industrial group's European steel business with that of peer Tata Steel.

By Tom Käckenhoff

DUESSELDORF, (Reuters) - Thyssenkrupp's powerful chief said workers would resist shutting down capacity in any of the German industrial group's European steel business with that of peer Steel.

"We have capacities that are worth preserving, and we will fight for that," Wilhelm Segerath, who represents the works council on Thyssenkrupp's supervisory board, told Reuters in an interview on Tuesday.

"I don't see any strengthening (of Thyssenkrupp) through a with Tata," Segerath said, adding he would prefer a sale of Thyssenkrupp's steel plant in Brazil.

Steel-to-elevators group has been exploring a steel with in response to excess production capacity and a weak demand outlook.

Thyssenkrupp's works council, which represents 28,000 steelworkers, has made clear it will resist any move that could cost jobs or see the firm abandon its 200-year-old steelmaking roots.

Industry sources told Reuters on Monday that Steel and were looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales.

Earlier this month, a union source told Reuters that could close its defined-benefit pension scheme to future accruals as a way to cut the massive deficit that is the major stumbling block to a deal.

(Writing by Maria Sheahan; Editing by Keith Weir)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Business Standard
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German union leader says will fight for plants in Tata-Thyssen merger

By Tom Käckenhoff

DUESSELDORF, (Reuters) - Thyssenkrupp's powerful chief said workers would resist shutting down capacity in any of the German industrial group's European steel business with that of peer Steel.

"We have capacities that are worth preserving, and we will fight for that," Wilhelm Segerath, who represents the works council on Thyssenkrupp's supervisory board, told Reuters in an interview on Tuesday.

"I don't see any strengthening (of Thyssenkrupp) through a with Tata," Segerath said, adding he would prefer a sale of Thyssenkrupp's steel plant in Brazil.

Steel-to-elevators group has been exploring a steel with in response to excess production capacity and a weak demand outlook.

Thyssenkrupp's works council, which represents 28,000 steelworkers, has made clear it will resist any move that could cost jobs or see the firm abandon its 200-year-old steelmaking roots.

Industry sources told Reuters on Monday that Steel and were looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales.

Earlier this month, a union source told Reuters that could close its defined-benefit pension scheme to future accruals as a way to cut the massive deficit that is the major stumbling block to a deal.

(Writing by Maria Sheahan; Editing by Keith Weir)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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