Buderus stainless steel sold in Wetzlar: What does that mean for the workers?

Buderus stainless steel sold in Wetzlar: What does that mean for the workers?

shock in Wetzlar: Buderus stainless steel, the only steel mill in Hesse, has a new owner! The Austrian company Voestalpine has sold its German subsidiary to the German investment company Mutares. This exciting message caused unrest and speculation about the future of the 1,130 employees on Wednesday.

The details of the sale remain secret: the purchase price was not announced, and the approval of the competition authorities is still pending. However, Voestalpine reports that the sale is part of a strategy to reduce production in the field of high -quality tools and noble buildings. This area suffers from massive pressure from international competitors, which forces corporate management to these drastic measures.

uncertainty about employment

The crucial question now arises for employees at work: What happens to their jobs? After years of restructuring, there are now further cuts. Mutares, known to buy companies in crisis situations, assures that in the event of a necessary reduction in the HR staff, a social plan for the employees concerned is negotiated.

Buderus stainless steel counts on a long tradition and generated 362 million euros in the 2023/24 financial year. But the challenges, including a stagnating car market in Germany, are attracting the company. After a work in Rhineland-Palatinate was closed and a profit warning was published for the coming financial year, there are great concerns about the future stability of the Wetzlar location.