Abstract
Thermal models are very useful in the understanding of particle production in general and especially in the case of strangeness. We summarize the assumptions which go into a thermal model calculation and which differ in the application of various groups. We compare the different results. Using our own calculation we discuss the validity of the thermal model and the amount of strangeness equilibration at CERN-SPS energies. Finally, the implications of the thermal analysis on the reaction dynamics are discussed.