Swiss Steel CEO Frank Koch outlines new balance-sheet overhaul and further German job cuts

Frank Koch, chief executive of Swiss Steel, told reporters that the group is embarking on a fresh balance-sheet restructuring and will implement a major downsizing of its German operations. He said the company’s workforce, now roughly 6,500 strong after a previous reduction, will be trimmed again as part of the plan. Koch highlighted that new EU safeguards have sharply reduced duty-free steel exports to Europe, forcing Swiss Steel to tighten its cost base and use short-time work at its Swiss site.

He emphasized that the firm’s statutory equity remains positive under Swiss law, even though consolidated equity is negative. Koch affirmed that the main shareholder and financing partners continue to back the restructuring, which aims to return the group to profitability by 2028 as a smaller, more flexible specialist producer.