DUSSELDORF, Sept 11 (Askume) – A regional head of IG Metall, Germany’s most powerful consortium, said he expected discussions to continue on how to create a new business at Thyssenkrupp AG (TKAG.DE) .
“Not this year,” Knut Geisler, head of IG Metall’s branch in North Rhine-Westphalia, where Thyssenkrupp is headquartered, told reporters when asked when he would clarify key issues related to financing.
Thyssenkrupp Steel Europe (TKSE) has a roughly 1.3 billion euro dispute with its parent company over how much money the unit needs to operate independently; the dispute led to the resignation of the unit’s chief executive and chairman in late August.
“We need a sustainable concept that eliminates the possibility of layoffs and plant closures. That’s clear,” said Geisler, who will join TKSE’s supervisory board as vice chairman.
Negotiations could last a long time, as Czech billionaire Daniel Kratinski is in talks to increase his stake in TKSE from 20% to 50%, a deal he could theoretically still back out of.
