Agency Report –
The company plans to cut costs mainly in procurement, logistics and sales in response to financial losses and will also reassess its investments.
While large-scale job cuts are not the main focus, some downsizing will be inevitable, chief executive Gunnar Groebler acknowledged, adding that the company would prioritize socially responsible measures.
Salzgitter faced headwinds last year from weak demand, falling steel prices, rising imports, and high energy costs.
However, the steel maker sees growth opportunities in defence and infrastructure, sectors poised for substantial government investment.
The chief executive emphasized the growing significance of the defence sector, citing security steel and military vehicle components as potential areas of expansion.
