CHICAGO ThyssenKrupp AGs assets in the Americas
are matters of interest to U.S. Steel Corp.,
according to its top executive.
We look at things that might be attractive within our
business model and that would add value and things that are in
the product ranges were familiar with and geographies
that seem to have some regional association to where we
are, U.S. Steel chairman and chief executive officer John
P. Surma said during a conference call with analysts Jan. 29
following the release of fourth-quarter earnings.
These assets ... fit that criteria, and theyre
matters of interest, Surma said. Anything specific
beyond that, its hard for us to comment on within the
rules that were operating under.
Goldman Sachs Group Inc. analyst Sal Tharani asked during the
call whether U.S. Steel might be interested in domestic
operations currently owned by ArcelorMittal SA should the
Luxembourg-based steelmaker bid successfully for ThyssenKrupp,
which could prompt a U.S. Department of Justice requirement
that ArcelorMittal divest some of its current facilities in the
United States due to antitrust concerns. Tharani referred
specifically to ArcelorMittals operations in Cleveland
and Burns Harbor, Ind.
Thats just a hypothetical, Surma said, who
reiterated what makes a facility attractive to U.S. Steel,
including geography and product range. Everything you
just mentioned probably would fit that. I just would also
observe that over the years we have looked at those things
beforebefore the current owners had them.
Surma dismissed Tharanis question of whether acquiring a
facility currently owned by ArcelorMittal would require U.S.
Steel to boost iron ore production.
It depends on a lot of different things, Surma
said. If its just a coating line, its one
thing. If its a blast furnace with a steel shop,
its something else. ... It all depends on what it would
An ArcelorMittal executive recently confirmed the
companys interest in ThyssenKrupps Calvert, Ala.,
amm.com, Jan. 9
ThyssenKrupp has said it aims to recoup the roughly
7-billion ($9.5-billion) book value of its Steel Americas
assetsincluding the Calvert rolling mill and slab-making
operations in Brazilas it looks to find a buyer or
partner for the unit (
amm.com, Aug. 28