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Deutsche Edelstahlwerke plans restructuring and site closures
Deutsche Edelstahlwerke (DEW), a subsidiary of the Swiss Steel Group, has announced a restructuring plan to focus operations on its Witten and Siegen locations. As part of this strategy, the company intends to sell its facilities in Hagen and Krefeld. If a sale cannot be secured, the company plans to close these sites.
The Hagen wire rod mill employs approximately 300 people, while the Krefeld steel processing site employs around 450. In Siegen, the company plans to pause operations at a site involving 220 employees, though the Siegen rolling mill, which employs about 700 people, is intended to remain an integral part of the future production network.
The company aims to concentrate steel production in Witten, where more than 1,000 employees work. By utilizing the electric arc furnace and casting plant in Witten, the company expects to reach near full capacity, reducing costs per ton and increasing competitiveness. Witten is currently oriented toward high-margin markets such as civil aviation and the defense industry.
Swiss Steel cited a shrinking market since 2021, driven by high energy costs, import pressure, and weak demand from the automotive and mechanical engineering sectors, as the primary reasons for the restructuring. The transition is expected to take place over the next two years.
Entities
Deutsche Edelstahlwerke · Hagen · Krefeld · Swiss Steel Group · Witten
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The company plans to pause operations at the Siegen site affecting 220 people. supertipp-online.de
- [● 2 SOURCES] Deutsche Edelstahlwerke intends to sell or close its plants in Hagen and Krefeld. supertipp-online.de
- [○ 1 SOURCE] The Siegen rolling mill employs approximately 700 people. supertipp-online.de
- [○ 1 SOURCE] The Witten site employs more than 1,000 people. supertipp-online.de
- [○ 1 SOURCE] The Hagen site employs approximately 300 people. supertipp-online.de
- [○ 1 SOURCE] The Krefeld site employs approximately 450 people. supertipp-online.de
- [● 2 SOURCES] The European long steel market has shrunk significantly since 2021. supertipp-online.de
- [○ 1 SOURCE] The restructuring is expected to take place over the next two years. supertipp-online.de