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

|About: ThyssenKrupp AG ADR (TYEKY)|By:, SA News Editor

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.