Overview

• The steelworks in Wetzlar will cease operations by the end of October, ending primary steelmaking at Hesse’s last such plant.
• The hot rolling mill and mechanical processing, including heat treatment, are slated to be sold to the GMH Group with completion targeted in the fourth quarter.
• The drop forge will be transferred to FerrAl United, which is also part of the Mutares portfolio.
• IG Metall describes the move as a major blow for Wetzlar and will negotiate an interest reconciliation and a social plan for affected employees.
• GMH plans job postings that could absorb roughly 60 workers from the steelworks as high electricity costs, global overcapacity and cheaper imports weigh on the business.