Steel Mills
October 27, 2013
What Next for ThyssenKrupp?
Written by John Packard
There has been great speculation and anticipation regarding the sale of the ThyssenKrupp Steel Americas steel mills since the parent company announced it was offering the plants for sale over one year ago. The Americas operations consist of the Calvert, Alabama facility as well as the CSA fully integrated slab mill with its two blast furnaces which are located in Brazil.
When the project to build Steel Americas was first proposed and later approved, TK AG had no idea that the world would be hit by the Great Recession nor did they understand the impact of poor planning and currency values would have on the total cost of the Americas group which was reported to be close to $15 billion. Since 2010, the company has taken $10.7 billion in write downs and the book value of the assets now stand at $4.5 billion.
