WSJ: ThyssenKrupp may expand in Brazil, exit U.S.


ThyssenKrupp (TYEKY TYEKF) again has redrawn plans for its unprofitable steel operations in the Americas, and it may exit the U.S. while expanding in Brazil, retaining its stake in a steel-making plant there and finding a partner to build another, WSJ reports.

While a spokesman says the company is still in advanced talks with one leading bidder involving its plants in Brazil and Alabama, sources say it more likely will sell only its Calvert, Ala., steel mill.

Months of negotiations with Brazil's SID have failed to reach a deal for the Alabama plant, but ArcelorMittal (MT) is believed to remain a serious bidder.

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Comments (3)
  • june1234
    , contributor
    Comments (4406) | Send Message
     
    you can probably hire 10 Brazilians for the price of one gringo
    25 Oct 2013, 04:58 PM Reply Like
  • chillywilly69
    , contributor
    Comments (36) | Send Message
     
    Have to be crazy to invest in Brazil.
    25 Oct 2013, 11:13 PM Reply Like
  • HWDPBL
    , contributor
    Comment (1) | Send Message
     
    just playing with chips before passing to someone else, few chips left
    28 Oct 2013, 09:35 AM Reply Like
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