2024-01-14 12:32:08
Lucerne (awp) – Lucerne steelmaker Swiss Steel is once again in financial difficulties. Reference shareholder, Martin Haefner made it known via the media that he continued to support the group. The Lucerne government is also examining how it could help the company.
On Saturday in the Luzerner Zeitung, Mr. Haefner, who holds 33% of the group’s shares, declared that he was, as in the past, available to the company and ready to contribute significantly to its future support.
According to the newspaper, the cantonal government and the Lucerne economic promotion are in contact with Swiss Steel and are examining the possibilities of possible support. President of the Council of State, Fabian Peter confirmed this.
The Sonntagszeitung, for its part, mentioned the upcoming replacement of the chairman of the board of directors Jens Alder. Peter Spuhler, who with 20% is another large shareholder in the group, would like this.
Mr. Alder tries to convince MM. Haefner and Spuhler to each inject around 200 million Swiss francs into the company, according to the Sunday newspaper. If necessary, Mr. Spuhler makes any new injection of funds dependent on a change at the head of the board of directors.
Mr. Spuhler would be in opposition to Mr. Haefner who, for his part, wants Mr. Alder to remain as president of the group, again according to the Sonntagszeitung. Mr. Haefner will, however, need Mr. Spuhler because a provision of the takeover commission prohibits him from taking the majority of Swiss Steel.
Risk of suspension of composition
What is “absolutely clear” is that Swiss Steel will need fresh funds in the medium term. And as Viktor Vekselberg (25% of shares) cannot do anything because of American sanctions linked to the war in Ukraine, the clean-up will depend on the Spuhler-Haefner duo, according to the Sonntagszeitung.
Last week, Swiss Steel was forced to react after articles reporting a possible threat of a debt restructuring. Last Thursday, the group assured “to be financed until further notice”.
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