Germany's biggest steel producer ThyssenKrupp is starting to modernize its plant in Duisburg. As a first step, a new production facility for particularly high-quality steel plates is to be built, the company announced on Wednesday. "Through this investment, we are meeting the ever increasing demands of our automotive customers for better surface qualities," said Arnd Köfler, Chief Technology Officer of ThyssenKrupp Steel, according to the company press release.
The investment volume for the so-called walking beam furnace is in the mid double-digit million euro range, according to the company. Completion is scheduled for 2022. The new furnace will ensure that surface defects are avoided during reheating and rolling of the steel ingots weighing up to 30 tons.
ThyssenKrupp's steel business is in crisis. With additional investments of 800 million euros over the next six years, the elimination of 3,000 jobs and the closure of individual plants and locations, CEO Martina Merz aims to get the company's traditional core business back on track. At the same time, she is looking for a partner for steel production.
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