TK loss soars on Steel Americas write-down
Dec 11, 2012 | 01:27 PM
| Chris Prentice
Tags
ThyssenKrupp,
Steel Americas,
Calvert,
flat-rolled steel,
steel companies,
earnings,
Heinrich Hiesinger,
Olaf Berlien
Jurgen Claassen
NEW YORK — ThyssenKrupp AG has listed Steel Americas as a discontinued operation, taking a €3.6-billion ($4.7-billion) write-down on the assets as the company’s overall net loss soared to €4.67 billion ($6.07 billion) in its fiscal year ended Sept. 30 from a €1.29-billion loss the previous year.
The Essen, Germany-based steelmaker said it had taken the €3.6-billion impairment charge on its Steel Americas operations "due to the advanced status of the sale process for the plants in Brazil and the U.S." ....
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