Martin Haefner hailed as hero by shareholders

Martin Haefner hailed as hero by shareholders

The shareholders of Swiss Steel, an ailing steel manufacturer, approved the latest capital increase with almost no dissenting votes. However, disputes between the main shareholders have left their mark on the company. The approval of the capital increase was a decisive moment for Martin Haefner, who has invested a significant amount of money into the company. Haefner, the owner of the car importer Amag, has been a key player in the future of Swiss Steel, providing much-needed financial support.

At an extraordinary general meeting (AGM) in Emmenbrücke, shareholders overwhelmingly supported the capital increase, the third one in just four years. Haefner, along with other major shareholders, endorsed the increase. Haefner’s significant investment in the company shows his commitment to its future success. The total gross amount of the capital increase was almost 287 million francs, with Haefner promising to underwrite the entire volume if necessary.

While Haefner has played a crucial role in Swiss Steel’s financial stability, other major shareholders like Liwet and Peter Spuhler have distanced themselves from the company. Disagreements among major shareholders have strained the company’s efforts to move forward, with Haefner and Alder acknowledging the challenges they have faced in reaching common ground.

Following the AGM, it was revealed that Alder would not run for re-election as president. Shareholders will need to consider new leadership for Swiss Steel in the coming months. The company’s future remains uncertain despite the recent capital increase, as it works to regain trust from customers, suppliers, and employees.

The market reaction to the capital increase was positive, with Swiss Steel shares jumping 8.5 percent. However, the company’s securities are still traded at a low value. While the fresh funds and refinanced bank loans may provide some stability for the next few years, the company must overcome significant challenges to secure its long-term future.

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