Further development of corporate and management structure

Corporate structure

The companies that have been managed to date under the Processing Division of the Salzgitter Group have been assigned to the Group's Steel and Services Division as of April 1, 2005. This reflects the fact that these business activities of the Processing Division no longer rank as strategic growth areas of the Group. Included in the Steel Division are: Salzgitter Bauelemente GmbH, Salzgitter Europlatinen GmbH, HSP Hoesch Spundwand und Profil GmbH Included in the Services Division are: Salzgitter Automotive Engineering GmbH & Co. KG, Salzgitter Magnesium-Technologie GmbH, Oswald Hydroforming GmbH & Co. KG. As to date, the Salzgitter Group continues to be managed by a management holding. The Group companies are operationally independent and now structured as the four Group Divisions Steel, Tubes, Trading and Services.

Management structure

The agreements concluded with Dipl.-Volkswirt Michael B. Pfitzner (Management board Trading Division) and Dr.-Ing. Volker Schwich (Management board Steel) will expire in the near future. As a consequence Mr. Heinz Groschke (Chairman of the Salzgitter Mannesmann Handel GmbH management board) and Dipl.-Ing. Hans Fischer (Chairman of the Salzgitter Flachstahl GmbH management board) have been granted general power of attorney for Salzgitter AG. In connection with the further development and streamlining of management structures they will represent the Group interests in the Trading and Steel Divisions.