Thyssenkrupp will temporarily suspend its electrical steel production in response to intense import competition and a weak market environment, the company’s steel division announced.
Beginning mid-December, operations at the Gelsenkirchen (Germany) and Isbergues (France) plants will be fully shut down through the end of the year. From January, the Isbergues facility will run at only 50pct capacity for at least four months.
The company cited a surge in low-priced imports, particularly from Asia, as the key driver behind the operational cuts. Thyssenkrupp said the influx has caused a sharp decline in orders, leaving European production facilities significantly underutilized and necessitating acute measures to stabilize operations.
Marie Jaroni, head of the steel division, said that the company remains committed to maintaining domestic production and is seeking stronger market protection to ensure fair competition and safeguard roughly 1,200 jobs across the two sites.
