Europipe GmbH, a 50/50 joint venture of the Salzgitter Group and AG der Dillinger Huttenwerke, received an instruction from Amsterdam-based South Stream Transport B.V. to halt the production of steel tubes for the South Stream pipeline until further notice, expected at least until February 19.
According to the company, the financial consequences for the Salzgitter Group cannot be quantified exactly yet. Europipe GmbH and wholly-owned subsidiary Salzgitter Mannesmann Grobblech GmbH, which supplies some of the plates, are endeavoring to minimize the reduction in capacity utilization that this creates.
The company said its current estimate nevertheless suggested that the charge on its consolidated earnings will comprise a low double-digit euro amount.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.