Supervisory Board Approves Stock Acquisition of Mannesmannröhren-Werke AG

In an extraordinary meeting on June 9, 2000, the Supervisory Board of SALZGITTER AG approved the resolution of the Executive Board to take-over Mannesmannröhren-Werke AG (MRW).

After all corporate and cartel requirements are at hand, 99.3 percent of the shareholdings in MRW shall be transferred to SALZGITTER AG.

Less than a year ago, the Supervisory Board of SALZGITTER AG adopted a trend-setting growth strategy. The newly resolved move into another core business ‘tubes’ is opening up a new entrepreneurial dimension. The funds provided for the growth strategy are not being used.