Thyssenkrupp's labour representatives back planned JV with Tata Steel

 

Thyssenkrupp's powerful labour representatives on Thursday signalled their support for a planned joint venture with Tata Steel, effectively guaranteeing that the deal will be approved by the group's supervisory board.

"The joint venture that has now been agreed is better than any joint venture that would have been created without the participation of the labour side," Thyssenkrupp works council head Wilhelm Segerath said on Thursday.
 

 

Speaking after a supervisory board meeting of Thyssenkrupp Steel Europe, Segerath, who is also a member on Thyssenkrupp AG's supervisory board, said such a joint venture had never been the goal of employees but it was still the better alternative.