The new EU safeguard measures change the framework conditions for Steeltec in the European market. At this stage, it is not yet possible to fully assess their specific impact, as the new mechanism is complex and the resulting market dynamics will only become apparent over time. “This development does not come as a surprise to us. We have closely monitored the political process over recent months, prepared for different scenarios and understand the options available to us,” said Frank Koch, CEO of Swiss Steel Group. The new EU safeguard measures create additional challenges for export-oriented Swiss producers in an already challenging environment. Swiss Steel Group will leverage its European production network to mitigate the impact of the new measures on customers, partners and the business as effectively as possible.
As previously communicated, Steeltec's Emmenbrücke site remains a core asset within the Swiss Steel Group portfolio. The new EU steel safeguard measures represent another factor affecting the site's competitiveness, alongside a range of other economic and regulatory framework conditions that will shape its long-term development. While the new measures create additional challenges, the publication of the quotas at least provides clarity on the rules that will apply from July 1 onwards. Our focus remains unchanged: to strengthen the long-term competitiveness of the Emmenbrücke site and safeguard the jobs associated with it.
Swiss Steel Group produces high-quality special long steel solutions for demanding applications in industries including automotive, mechanical engineering, energy infrastructure, and other safety- and performance-critical sectors. Steeltec exports the vast majority of its production volume to the European Union and employes around 600 employees.
Steeltec continues to support the efforts of the Swiss authorities and industry associations to secure market conditions that mirror Switzerland’s position as free trade partner. The company will remain in close dialogue with the relevant stakeholders.