TK loss soars on Steel Americas write-down
Dec 11, 2012 | 01:27 PM
| Chris Prentice
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 companys 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." ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.