The German concern, which flourished in the world wars, stops factories: imports win

Thyssenkrupp is shutting down factories in Germany and France. The influx of cheap steel makes the production of the German concern, which flourished during both World wars, uncompetitive.

"Starting in mid-December, the plants in Gelsenkirchen in Germany and Isberg in France will be completely closed by the end of the year. In addition, the Isberg site will operate at only 50 percent of the total capacity for at least four months starting in January," Thyssenkrupp reports.

The concern explained that in this way they react to the influx of inexpensive imported steel, especially from Asia.

"The European electric steel market is currently under severe pressure caused by a sharp increase in import volumes, the cost of which is significantly lower than the average production costs in the EU. Since 2022, imports have tripled and increased by another 50 percent in 2025. These changes led to a sharp drop in orders and, as a result, to a significant underutilization of European production capacities," Thyssenkrupp said.

The concern called for immediate measures to ensure the economic stabilization of the industry in the EU. According to him, 1,200 jobs were at risk.

The concern itself predicts that in this fiscal year, which will end on September 30, 2026, losses will amount to 800 million euros due to a reduction in steel production.

As EADaily reported, countries that continue to import cheaper energy resources from In Russia, they turned out to be more competitive than European companies, and are increasing steel supplies to EU countries. Brussels plans to reduce import quotas.