EQS-Adhoc

Salzgitter Aktiengesellschaft: EU Commission declares permissibility of the application for public funding for Salzgitter AG’s transformation (SALCOS)

EQS-Ad-hoc: Salzgitter Aktiengesellschaft / Key word(s): Miscellaneous Salzgitter Aktiengesellschaft: EU Commission declares permissibility of the application for public funding for Salzgitter AG’s transformation (SALCOS) 04-Oct-2022 / 17:26 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EU Commission has today notified the application for Salzgitter AG concerning the funding of the SALCOS - Salzgitter Low CO2 Steelmaking transformation program, and has therefore declared the state aid measures applied for to be compatible with European law. Another essential precondition for the granting of the requested national funding has therefore been set in place. Following the signing of an administrative agreement on September 15, 2022 by Minister President Stephan Weil and State Secretary Stefan Wenzel (BMWK) to mark the commitment of the Federal State of Lower Saxony and the Federal Republic of Germany to promoting SALCOS, the EU Commission's approval has also been obtained.

 

Pending a positive, conclusive review and decision by the national funding authorities, we now assume that, in accordance with the administrative agreement of September 15, 2022, the Federal Government and the Federal State of Lower Saxony will contribute up to € 700 million and up to € 300 million respectively to promoting SALCOS. Together with the funds already approved by Salzgitter AG in an amount of 723 million, this would therefore secure financing the first development stage of SALCOS for implementation by the end of 2025.

 

Contact:
Markus Heidler

Head of Investor Relations

Salzgitter AG
Eisenhüttenstraße 99
38239 Salzgitter

Phone [phone]
Fax [phone]
E-Mail [e-mail]

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04-Oct-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Salzgitter Aktiengesellschaft
	Eisenhüttenstraße 99
	38239 Salzgitter
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.salzgitter-ag.de
ISIN:	DE0006202005
WKN:	620200
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1456711

End of Announcement	EQS News Service

1456711  04-Oct-2022 CET/CEST