Salzgitter AG has reached an agreement to become the sole shareholder of Hüttenwerke Krupp Mannesmann (HKM) starting June 1, 2026.

Under the new deal, thyssenkrupp Steel will sell its shares to Salzgitter, though it will continue receiving slab supplies until 2028.

The transition requires approval from governing bodies and a positive going concern report. Besides, Vallourec S.A. must also agree to sell its remaining shares to Salzgitter.

Salzgitter CEO Gunnar Groebler said that this move secures an industrial future for HKM's workforce and integrates the plant into low-CO2 steel production plans. While financial details remain private, the pact provides a viable solution for the unbundling of long-term contractual ties between the steel producers.