Officials called it a "historic day" after the takeover was signed on Wednesday. Edwin Eichler from SMS Group further talked about the importance of entering a green age of steel production, and enlisted the necessary step for this transition: "On the one hand, we need the newest technology for large-scale industrial production. Such as the one Sunfire operates, a company in which Paul Wurth already invested. On the other hand, we need support from the government. Without a partnership, it will be impossible to make a successful transition. In Europe alone, hundreds of billions of euros will have to be invested into the sector to finance the decarbonisation."
The name Paul Wurth will remain and no jobs will be cut, officials further announced on Wednesday. Minister of the Economy Franz Fayot underlined that the presence of Paul Wurth will in fact be expanded, not just stabilised by the takeover.
