Large German steelmaker Salzgitter has said it is not in negotiations with its competitor, thyssenkrupp, about merging their steel businesses.
Thyssenkrupp said on Monday, it was talking with several global steel companies about a possible consolidation for its steel units. In fact, the company said all options are being considered as part of its new steel strategy. Although Salzgitter was not among those named, the company has been considered a viable choice for some time.
Salzgitter said it has been flourishing as an independent company for over 20 years but is receptive to partner unions. However, there are no talks between the two companies at this time, according to media reports.
In a separate announcement, Salzgitter proposed a cancellation of dividend payments for FY 2019, citing global and economic constraints due to COVID-19. The board will submit the plan, which is the first such step since 1998, during its annual shareholders meeting on July 8.