ThyssenKrupp targets May for Americas sale
Feb 12, 2013 | 04:48 PM
| Catherine Ngai
Tags
ThyssenKrupp,
Steel Americas,
stainless steel,
Heinrich Hiesinger,
Catherine Ngai
NEW YORK — ThyssenKrupp AG is aiming to sign a sales agreement for its Steel Americas division by May, the German steelmaker’s top executive said Feb. 12 as the struggling unit logged another quarter in loss-making territory.
"We are always very clear that we can control the (sales) process until signing, at least to a certain extent, (and) we’ve always said that we’ll put all efforts to come to such a situation somewhere in May," chairman and chief executive officer Heinrich Hiesinger said during the company’s fiscal first-quarter earnings call.
"Our Steel Americas exit is well on schedule," he added.
While the company aims to sign a sales agreement by May, closing on the potential deal will take more time, Hiesinger said. Bidding on the unit has closed, but the company has previously said a potential sale could take until 2014 to conclude (amm.com, Oct. 9).....
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