EMCC European Monitoring Centre on Change

Degussa, STEAG, RAG Immobilien

Company/Organisation:
Degussa, STEAG, RAG Immobilien

Geographic Location

Country: Germany

Company

Sector: Mining / quarrying
Mining and quarrying
05 - Mining of coal and lignite
Group: RAG

Employment Effects

Announcement Date: 19-07-2006
Planned Job Reductions min: 1300
Planned Job Reductions max: 1300
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-08-2006
Foreseen End Date: 31-12-2009

Additional Information

Ruhrkohle AG (RAG) pursues four main areas of activity, focusing on energy and chemicals while continuing with its traditional coal mining and real estate businesses. The corporate group represents a workforce numbering more than 100,000 worldwide and total revenues about EUR 22 billion. RAG plans to merge the Group’s administration department and the administration departments of its companies Degussa (chemical industry), Steag (energy) and RAG Immobilien (real estate). 1300 jobs will be cut within the next three years (FAZ 15.04.06). The plans are part of a widespread restructuring programme to prepare the public offering of RAG shares in the second quarter of 2007. The Mining, Chemicals and Energy Industrial Union (IG Bergbau, Chemie und Energie, IGBCE), which is represented on the Group’s supervisory board, support the plans provided that there will be no compulsary redundancies.