mmartin
What about the rest of the story - TK are selling assets to reduce debt after their expansion BACKFIRED.
FRANKFURT: German steelmaker ThyssenKrupp plans to sell its US and Brazilian mills separately for at least the book value, which is about 7 billion euros ($8.8 billion), its chief executive has told German newspaper Welt am Sonntag. ThyssenKrupp plunged to a net loss last year, hit by the cost of expansion in Brazil and the United States, which has backfired amid weakening demand and rising material prices.
The group is now slimming down to cut debt and focus on its European heartlands and, having sold its stainless steel division and its super-yachts business, is looking at selling other assets including Brazilian and US mills.
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mmartinWhat about the rest of the story - TK are selling assets...
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