Feb 27 2014
The sale of the ThyssenKrupp Steel USA rolling and coating plant in Calvert, Alabama to a consortium of ArcelorMittal and Nippon Steel & Sumitomo Metal Corporation is completed. Upon closing, ThyssenKrupp received a purchase price of 1.55 billion US dollars from the consortium.
At the same time a valuable long-term slab supply contract has been agreed upon that will provide a sustainable solution for the ThyssenKrupp CSA steel mill in Brazil. The consortium will purchase two million tons of slabs per year from ThyssenKrupp CSA up to 2019. The agreement will reliably secure a minimum 40 percent capacity utilization of the plant for several years. In addition, stronger penetration of the slab markets in South and North America will further increase ThyssenKrupp CSA’s capacity utilization.
The combination of the sale and the slab supply contract will help ThyssenKrupp improve its cash flow profile and key financials in the future.
Following completion of the sale, ThyssenKrupp is now concentrating fully on further operating improvements at the Brazilian plant, where clear progress has already been made in technical performance and efficiency. ThyssenKrupp CSA will remain in the Steel Americas business area. This business area will continue to be stated separately in our financial reports.
ThyssenKrupp has around 157,000 employees in just under 80 countries working with passion and expertise to develop solutions for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2012/2013 ThyssenKrupp generated sales of around €39 billion.
Innovations and technical progress are key factors in managing global growth and using finite resources in a sustainable way. With our engineering expertise in the areas of "Mechanical", "Plant" and "Material", we enable our customers to gain an edge in the global market and manufacture innovative products in a cost and resource efficient way.
Source: http://www.thyssenkrupp.com/