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BUSINESS

Merkel calls for more women in top business positions

Chancellor Angela Merkel on Thursday called for German firms to promote more women to top positions with a powerful critique on the lack of female leadership in big business.

Merkel calls for more women in top business positions
Photo:DPA

“There are only two women in chairwoman positions in all the Dax companies – in Siemens and Deutsche Bahn. That makes me sorry,” she told weekly newspaper Die Zeit.

She said big business was still a closed part of society where gender equality was concerned. But Merkel admitted a political quota system would not be an effective way to tackle the problem. “I do not see this as the task of the law-makers but as one for business,” she said.

It will prove to be good business to allow or enable women to rise through the ranks of management, she added.

She said she was convinced, “that much will change in the foreseeable future, in the interests of the businesses concerned.”

Merkel also said she believed men should become more active in the debate over gender equality and will soon have to consider how their roles can be made more interesting and fair.

“In the foreseeable future there will be a stronger discussion between men about their role within the family and society in general, as they grow into a new role,” she told the paper.

ENVIRONMENT

Sweden’s SSAB to build €4.5bn green steel plant in Luleå 

The Swedish steel giant SSAB has announced plans to build a new steel plant in Luleå for 52 billion kronor (€4.5 billion), with the new plant expected to produce 2.5 million tons of steel a year from 2028.

Sweden's SSAB to build €4.5bn green steel plant in Luleå 

“The transformation of Luleå is a major step on our journey to fossil-free steel production,” the company’s chief executive, Martin Lindqvist, said in a press release. “We will remove seven percent of Sweden’s carbon dioxide emissions, strengthen our competitiveness and secure jobs with the most cost-effective and sustainable sheet metal production in Europe.”

The new mini-mill, which is expected to start production at the end of 2028 and to hit full capacity in 2029, will include two electric arc furnaces, advanced secondary metallurgy, a direct strip rolling mill to produce SSABs specialty products, and a cold rolling complex to develop premium products for the transport industry.

It will be fed partly from hydrogen reduced iron ore produced at the HYBRIT joint venture in Gälliväre and partly with scrap steel. The company hopes to receive its environemntal permits by the end of 2024.

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The announcement comes just one week after SSAB revealed that it was seeking $500m in funding from the US government to develop a second HYBRIT manufacturing facility, using green hydrogen instead of fossil fuels to produce direct reduced iron and steel.

The company said it also hoped to expand capacity at SSAB’s steel mill in Montpelier, Iowa. 

The two new investment announcements strengthen the company’s claim to be the global pioneer in fossil-free steel.

It produced the world’s first sponge iron made with hydrogen instead of coke at its Hybrit pilot plant in Luleå in 2021. Gälliväre was chosen that same year as the site for the world’s first industrial scale plant using the technology. 

In 2023, SSAB announced it would transform its steel mill in Oxelösund to fossil-free production.

The company’s Raahe mill in Finland, which currently has new most advanced equipment, will be the last of the company’s big plants to shift away from blast furnaces. 

The steel industry currently produces 7 percent of the world’s carbon dioxide emissions, and shifting to hydrogen reduced steel and closing blast furnaces will reduce Sweden’s carbon emissions by 10 per cent and Finland’s by 7 per cent.

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