DUESSELDORF, Germany, April 1 (Reuters) - Thyssenkrupp's steel subsidiary, Thyssenkrupp Steel Europe, called on the European Commission to take action to protect the domestic production of electrical
Thyssenkrupp Demands EU Action to Protect Domestic Electrical Steel Sector
Thyssenkrupp Calls for EU Safeguards Amid Surge in Cheap Steel Imports
Background on Thyssenkrupp's Appeal
DUESSELDORF, Germany, April 1 (Reuters) - Thyssenkrupp's steel subsidiary, Thyssenkrupp Steel Europe, called on the European Commission to take action to protect the domestic production of electrical steel from cheap imports from Asia.
EU Investigation and Industry Response
The company welcomed on Wednesday the launch of a safeguard investigation by the EU into grain-oriented electrical steel, said unit head Marie Jaroni, as a much-needed first step.
Importance of Grain-Oriented Electrical Steel
Grain-oriented electrical steel is a key material used in power grids. Imports are not covered by EU plans to cut tariff-free steel import quotas by almost half and impose a 50% duty for excess shipments.
Calls for Swift and Effective Measures
"What matters now is acting swiftly and introducing effective protective measures," she said, adding jobs and technological expertise could only be safeguarded in Europe in the long term with a level playing field.
Impact on Thyssenkrupp Operations
Production Cuts in France
Thyssenkrupp said last week it would extend production cuts at its site in Isbergues in northern France, citing a "ruinous flood of imports" coming to Europe.
Reporting and Editorial Credits
(Reporting by Matthias InverardiWriting by Madeline ChambersEditing by Kirsti Knolle)
