Europe’s largest steelworks is in Duisburg – its capacity is now expected to shrink by almost a fifth. And that could cost thousands of jobs: Thyssenkrupp Steel Europe, the steel subsidiary of the ailing Essen-based conglomerate Thyssenkrupp, announced on Thursday evening that it would only produce 9 to 9.5 million tons of steel annually in the future. The Duisburg site is currently designed for 11.5 million tons. But at the moment the company with its 27,000 employees, 13,000 of them in Duisburg, can only sell nine million tons. And management no longer expects a return to full capacity.
Thyssenkrupp: Why Europe’s largest steelworks is shrinking – Economy
