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Supervisory Board Meeting on January 18, 2001

18.01.01 | Press release of Salzgitter AG


Supervisory Board Meeting on January 18, 2001

Salzgitter AG Continuing Growth and Quality Offensive

SALZGITTER AG Acquires Shareholding in Steel Service Center
Continuing their implementation of its growth strategy adopted in 1999 and in order to strengthen the Trading and Steel Service Center Division, SALZGITTER AG is acquiring a 50 % shareholding in Robert S. A., Le Thillay and its three subsidiaries. The Robert Group its among the large steel service center companies of France and operates four steel service centers in the Paris and Lyons areas. This shareholding will enable SALZGITTER AG to strengthen its market position and to step up its sales in France.

SALZGITTER AG Invests in Logistics
The increasing complexity of operating logistics created the demand for a comprising optimization conception at Salzgitter AG. The Project steel sheets logistics will raise the standard of transport, handling and storage significantly. The Company will invest a total of abt. 33 million euros during the next few years in order to develop its shipping logistics.16 million euros thereof are for in-plant facilities. 17 million euros will be invested by Verkehrsbetriebe Peine-Salzgitter GmbH, a subsidiary of SALZGITTER AG, for the construction and the operation of two shipping bays.

SALZGITTER AG Developing Magnesium Flat Rolled Products
Towards the end of last year, SALZGITTER AG concentrated its activities developing magnesium flat rolled products for a good many years in the newly founded Magnesium-Technologie Salzgitter GmbH. The objective of the technology company is the development, production and sales of high-grade magnesium flat rolled products including the respective service. Aside from steel, SALZGITTER AG will thus introduce a further innovative lightweight material in the European market over the medium term and will thus emphasize its positioning as a future oriented partner for materials and technology.

Executive Personnel
The Supervisory Board of SALZGITTER AG has appointed Dr.-Ing. Volker Paul H. Schwich (47) a member of the Executive Board of SALZGITTER AG. Dr. Schwich wil be succeeding Dipl.-Ing. Arnold Jacob (63) who will be retiring on March 31, 2001, when his employment contract will expire and he will be reaching retirement age. Dr.-Ing. Schwich was last a member of the Board of Management of Georgsmarienhütte GmbH, Osnabrück. Previously, he was a member of the Board of Management of Companies of the Wehrhahn Group, Neuss (1995-2000), and between 1982 and 1992 he held executive positions in companies of the Klöckner Group.

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