Bloomberg News

ThyssenKrupp Starts Short-Hours at Steel Europe in August

July 26, 2012

ThyssenKrupp Steel Europe AG said today it will introduce shortened shifts from August due to “ongoing weak orders.”

ThyssenKrupp and its workers council agreed on the measure, which will affect production sites in Duisburg-Hamborn, Duisburg-Huettenheim, Bochum, Dortmund and the Siegerland area, the Essen, Germany-based company said in an e-mailed statement today.

Shortened shifts are expected to remain in place until the end of the year, it said. About 12 percent of 17,500 workers will be affected.

Stefan Ettwig, a company spokesman, declined to quantify the amount of production that will be lost.

The shares rose 2.4 to 14.15 euros at the close in Frankfurt.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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