Talking to the Focus weekly, Anne Marie Grossmann, CEO of the steel producer Georgsmarienhuette (GMH), warned that the deepening crisis of the automobile sector, a leading client of GMH products, threatens the end of her company’s production in Germany. That implies 6,000 jobs. Like many other industrial producers, GMH could consider switching production to a new site outside of Germany, but Grossmann stays committed to the industrial site Germany.
For the time being, short time work will be taken, hoping that the situation improves, but the automobile crisis, together with rising energy costs and the burden of anti-CO2 regulations plus the competition of Chinese steel producers on the global market pose a big question mark over the future of GMH, she said.