DUESSELDORF (Reuters) - The investment vehicle of Czech billionaire Daniel Kretinsky on Friday said it was a good strategic fit for Thyssenkrupp (ETR:TKAG)'s steel division, as talks between the two parties over a 50-50 joint venture continue.
"Decarbonizing steel production introduces growing costs related to energy commodities like electricity, hydrogen, natural gas, and emission allowances," a spokesperson for EP Corporate Group (EPCG) said in emailed comments.
EPCG said that via its energy division EPH it would bring deep expertise to the table, adding the steel industry's challenge to decarbonise was something the power sector has been going through for decades.
"For these reasons, we firmly believe that our group is a suitable candidate for entry into" Thyssenkrupp Steel Europe, EPCG said.
The chairman of Thyssenkrupp's steel unit earlier this week said that conditions in the steel market have deteriorated markedly, adding talks with Kretinsky had been unaffected for now.