TK Steel Americas talks said ‘intense’

May 03, 2013 | 04:25 PM | Catherine Ngai

Tags  ThyssenKrupp, Essen, Brazil, coking facility, Calvert, ArcelorMittal, Nippon, Sumitomo Vale

NEW YORK — A prolonged bidding process for ThyssenKrupp AG’s Steel Americas operations in Calvert, Ala., and Brazil could be nearing a conclusion after the steelmaker said it was in "intense negotiations" with potential buyers.

"We are in intense negotiations for Steel Americas," the Essen, Germany-based company said in a statement May 3. "These negotiations include talks with our involved partner Vale (SA), Brazilian development bank BNDES and Brazilian government circles. Unchanged, we focus on a signing in due time."

News that the process may be coming to a close follows months of behind-doors bidding and negotiations for the steel production unit, which was put on the auction block last year as ThyssenKrupp looked to cut costs, garnering interest from several domestic and international competitors. A number of bidders previously confirmed some level of interest in the assets, including Luxembourg-based ArcelorMittal SA, Pittsburgh-based U.S. Steel Corp., Luxembourg-based Ternium SA and Charlotte, N.C.-based Nucor Corp. (amm.com, Feb. 12). ....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results