Thyssenkrupp CEO says renewables like wind and solar make no sense in Germany. Industry survival demands electricity prices drop to 3 cents per kWh long-term. Green power must be imported massively from Scandinavia and Iberian peninsula for competitiveness. High current prices force energy-intensive firms to relocate automatically. Company slashed sales outlook due to weak auto, machinery, and construction markets. Steel division bleeds losses and faces sale. López demands EU adopt US-style 50% steel import tariffs against Asian and Brazilian dumping. Steel capacities shift from outside Europe toward EU due to US tariffs. Marine division TKMS profitable and set for 49% IPO this year. State stake in TKMS possible but Thyssenkrupp wants majority control.
Comments
Be the first to comment!