UK markets closed
  • NIKKEI 225

    28,249.24
    +73.37 (+0.26%)
     
  • HANG SENG

    20,045.77
    -156.17 (-0.77%)
     
  • CRUDE OIL

    89.79
    +0.78 (+0.88%)
     
  • GOLD FUTURES

    1,804.00
    +12.80 (+0.71%)
     
  • DOW

    32,838.04
    +34.57 (+0.11%)
     
  • BTC-GBP

    19,808.21
    +589.91 (+3.07%)
     
  • CMC Crypto 200

    556.99
    +14.11 (+2.60%)
     
  • ^IXIC

    12,666.18
    +8.62 (+0.07%)
     
  • ^FTAS

    4,132.82
    +21.31 (+0.52%)
     

Salzgitter Aktiengesellschaft: Salzgitter AG’s Supervisory Board approves own funds amounting to € 723 million for the realization of the first stage of the SALCOS® transformation program

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Salzgitter Aktiengesellschaft / Key word(s): Strategic Company Decision
Salzgitter Aktiengesellschaft: Salzgitter AG’s Supervisory Board approves own funds amounting to € 723 million for the realization of the first stage of the SALCOS® transformation program

13-Jul-2022 / 16:21 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

In its meeting today, Salzgitter AG’s Supervisory Board unanimously approved the Executive Board’s application to make own funds of € 723 million available for the first expansion stage of the SALCOS®-project. The aim of SALCOS® is to fully convert the integrated steelworks in Salzgitter in three stages to low-CO2 crude steel production by 2033. Up to around 95 % of the CO2 emissions amounting to approximately 8 million tons a year will be gradually reduced as a result.

As part of the first expansion stage, an electrolysis, a DRI plant and an electric arc furnace are to be built by the end of 2025. These facilities will enable us to produce 1.9 million tons of low-CO2 crude steel a year, thereby replacing a blast furnace and a converter. To this end, the Supervisory Board today approved own funds amounting to € 723 million, with the commensurate cash effect over the years from 2022 through 2026. Along with our own contribution, we are counting on substantial public funding. The approval and appraisal process for these public funds has not yet been concluded.

For more detailed information, please see the press release on this topic published today.

 

Contact:
Markus Heidler

Head of Investor Relations

Salzgitter AG
Eisenhüttenstraße 99
38239 Salzgitter

Phone +49 5341 21-6105
Fax +49 5341 21-2570
E-Mail ir@salzgitter-ag.de

13-Jul-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Salzgitter Aktiengesellschaft

Eisenhüttenstraße 99

38239 Salzgitter

Germany

Phone:

+49 5341 21-01

Fax:

+49 5341 21-2727

E-mail:

info@salzgitter-ag.de

Internet:

www.salzgitter-ag.de

ISIN:

DE0006202005

WKN:

620200

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1397419


 

End of Announcement

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting