 In 1957 steel group Klöckner established a new steel works on the same site, Klöckner Hütte Bremen.After growth during the 1960s and 1970s the business began to experience financial problems, and in the early 1990s Klöckner became effectively bankrupt.In 1994 the steelworks at Bremen was acquired by Sidmar, renamed Stahlwerke Bremen; it later became part of Usinor, Arcelor (2002), and ArcelorMittal (2006) through mergers of the parent holding company.