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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