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Detailed text transcripts for TV channel - DW - 20180702:13:21:00

After the press conference my colleague helen humphrey had a chance to speak directly with chief executive. is what he had to say we have a structure overcapacity first seen in europe and as a consequence of all of that the utilization rates for all the steel companies are not high enough to really chinoy the attractive returns going forward and for our employees they were forced into restructuring programs each and every three to four years so we finally want to address that issue so we had four elements in mind one is the industrial logic take over capacity and solve that problem secondly generate significant value for our shareholders which is given by the four to five hundred million synergies but also good for a more reliable a more promising future for the majority of our employees and the fact that we remain a fifty percent owner is also good for all culture so it s going to stay noble peg ....

Structure Overcapacity , Helen Humphrey , Press Conference , Chief Executive , Utilization Rates , Five Hundred Million ,

Detailed text transcripts for TV channel - DW - 20180702:12:14:00

In about four thousand job cuts and savings of hundreds of millions of euros each year the marriage firm will employ some forty eight thousand workers in countries including germany the netherlands and the u.k. and it s expected to generate an annual revenue of around fifteen billion euro as. you just saw ahead of a he s ing at the c.e.o. or to sit in that report and we can speak to him now he joins us from brussels welcome to the program let me first ask you why this move now. i think it s about now you probably will come back to the pond did took us roughly two years to go forward what is the root cause here we have a structure over capacity for steel in europe and as a consequence out of that the utilization rates for all the steel companies were not high enough to really change rate attractive returns going forward and for our employees they were forced into restructuring programs each and every three to four ....

The Netherlands , Marriage Firm , Job Cuts , Fifteen Billion , Forty Eight Thousand , Four Thousand , Fifteen Billion Euro , Utilization Rates ,