Economy
Wednesday, April 13, 2016
If the German stock market before a German-Indian steel merger? According to a newspaper report negotiated the largest German steel company with the world market leader from India. Allegedly, different scenarios on the table.
Charts
According to a newspaper report, the talks on a possible merger of the European steel business of ThyssenKrupp and Tata Steel to take concrete shape. Executives of both companies played at the highest level various scenarios for a combination with, according to a report by the “Rheinische Post”. About an Indo-German solution April, many in the sector since the beginning of speculation.
A variant before see the European steel transactions each accorded their proper value to participate in a joint venture and to bring this company to the stock exchange. Should any of the companies involved then want to sell further shares, this could be done through the stock market.
Takes Tata in Brazil?
Another detail sheds further light the steel plant ThyssenKrupp’s business in Brazil : Tata Steel have apart from the idea for a joint venture registered great interest in the Brazilian plant of ThyssenKrupp, the newspaper reported. The Journal cites with its details on information from the corporate environment. Name called the “Rheinische Post” not. Just last week, ThyssenKrupp had announced its intention to become a “symbolic price” sole owner of the relevant steelworks CSA. Analysts had praised the step: This would make it for ThyssenKrupp easier the steelworks for sale
need to rush apparently does not exist. An agreement could not be expected immediately reportedly, they say. In conversation are also other options. Officially, neither ThyssenKrupp nor Tata Steel Europe wanted to comment on the report and the speculation on the stock market.
exit from the steel crisis?
Only start of the week, tens of thousands of employees of the German steel industry were part of a nationwide “Action Day” took to the streets to appeal for the future of the steel industry in Europe. The IG Metall spoke of 45,000 participants, of which 16,000 in Duisburg and 2500 before the Federal Chancellery in Berlin. German Economics Minister Sigmar Gabriel secured the steelworkers to its support.
rallies in Saarland demonstrated the unions with 20,300 employees the largest feed on. The State in the German-French border region has been hit hard by structural change associated with the end of coal mining.
About 500,000 jobs
The steel sector in Germany suffers as the entire European steel industry since years under cheap imports from China. But when the so-called action it was also about the planned tightening of the EU emissions trading scheme, which prepares the steel industry concerns.
“In any of the 85,000 steel jobs over six and a half employees come in the customer industries that depend on it,” said the IG Metall chairman Joerg Hofmann. “Therefore, this industrial power in Germany must not be compromised.”
is necessary, to decide, inter alia at European level quickly on “more effective trade defense instruments against unfair competition” demanded Hofmann. Steel imports from China would “fill in with dumping prices the European market”.
disadvantage for Climate Protection
With regard to the dispute over the future of the European emissions trading warned Hofmann who aufbürde the steel industry to high loads , “prevents investment and drives the industry into crisis”. The world’s climate have none of it, “when steel is produced only where significantly higher emissions are discharged”. The industry must get “proportionately a free allocation of emission rights” continue.
Federal Minister Gabriel assured that he would “not agree to any plan that threatens the future of German steel production”. The emissions trading reform should “the efforts that have been undertaken by the steel industry and other energy-intensive industries, adequate reward,” he said aloud speech manuscript at the rally in Duisburg. The climate policy in Germany and Europe should not industrial competitiveness “through unilateral loads undermined”.
More about“unacceptable” it designated Gabriel that the Chinese steel industry their products thanks to high government subsidies “at dumping prices” bring to the world market. He was for “an enhanced and quicker use of anti-dumping proceedings the EU”.
“Horroszenarien” for “Air Discounts”
The environmental organization German Watch, however accused the steel industry, they male “devious horror scenarios on the wall”. Although leave to discuss whether the industry should be protected in the EU from cheap imports, said association chief Klaus Milke. “But it is very bad form, but to discredit the overdue reform of the Emissions Trading Scheme.” The steel industry wanted here “scaremongering more air rebates” secure.
The climate and energy expert of the Left Party in the Bundestag, Eva Bulling-Schröter, also lamented climate was “for the bosses of steelworkers still a cash cow “. Thanks to the free allocation of allowances, the large steel groups in Europe have “a lot of money” earned in recent years in emissions trading, said Bulling-Schröter. The federal government must nationally, running at EU level and in discussions with Beijing “for functioning climate protection”.
Source: n-tv.de
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