ThyssenKrupp AG (TYEKF) - OTCPK - Current
  • Fri, Apr. 1, 12:47 PM
    • Vale (VALE +3.1%) is finalizing a proposal to exit a money-losing Brazilian steelmaking venture with ThyssenKrupp (OTCPK:TYEKF), Reuters reports.
    • Under the draft plan, which has yet to be approved by Vale's board, the company would sell its ~27% stake in CSA Siderúrgica do Atlántico to partner ThyssenKrupp for $1, and Vale also would also agree to assume 10% of CSA's contingent liabilities, according to the report.
    • Vale's planned exit from Brazil's most costly foreign investment project ever is the latest sign the steel mill has become a liability for both Vale and Thyssen, which tried unsuccessfully to sell the venture in recent years, Reuters says.
    • Now read Report: Tata Steel eyes stake in ThyssenKrupp's Europe steel unit
    | Fri, Apr. 1, 12:47 PM
  • Wed, Mar. 30, 1:11 PM
    • German steel producer ThyssenKrupp (OTCPK:TYEKF) jumped more than 8% today in Europe after India's Tata Steel said the slump in global prices has forced it to consider selling its loss-making U.K. operations.
    • Tata’s exit from the U.K. might result in consolidation in the European steel industry, and a combination of Tata and ThyssenKrupp “may now become more than just a hypothesis,” says Berenberg analysts as they reiterate a Buy rating on ThyssenKrupp.
    • Tata says it has suffered more than £2B ($2.88B) in asset impairments during  the last five years stemming from its U.K. operations.
    • Tata’s U.K. assets, once controlled by British Steel and bought for $12B a decade ago, include the giant Port Talbot works in South Wales, and a sale would risk the loss of thousands of industrial jobs in an economically deprived region.
    | Wed, Mar. 30, 1:11 PM
  • May 14, 2015, 8:38 AM
    • ArcelorMittal (NYSE:MT+6.4% premarket after the European Union announces tariffs as high as 35.9% on electrical steel from the U.S., Russia, Japan, China and South Korea.
    • The duties punish exporters of grain-oriented electrical steel - used in power transformers - from the five countries for allegedly having sold it in the EU below cost; they take effect today and last for six months, but could be prolonged for five years.
    • EU producers that also include ThyssenKrupp (OTCPK:TYEKF) and Tata Steel suffered “material injury” as a result of the dumped imports, the European Commission says.
    | May 14, 2015, 8:38 AM | 3 Comments
  • Aug. 27, 2014, 2:58 PM
    • The U.S. will not go ahead with planned import duties on specialized steel from Japan, Germany and Poland after the U.S. International Trade Commission found the imports were not harming local industry.
    • The U.S.-based public affairs lobby of the Japanese steel industry welcomes the decision, which came after a complaint lodged by AK Steel (AKS -2.9%) and others.
    • The decision affects companies including Nippon Steel & Sumitomo Metal (OTC:NISTF) and Germany's ThyssenKrupp (OTC:TYEKY, OTCPK:TYEKF), which had been named in the dispute.
    • Also: X -1.1%, STLD -0.4%, WOR -0.6%.
    • ETF: SLX
    | Aug. 27, 2014, 2:58 PM
  • Nov. 7, 2013, 7:46 AM
    • ArcelorMittal (MT) remains interested in a potential purchase of ThyssenKrupp's (TYEKY, TYEKF) steel rolling mill in Alabama, CFO Aditya Mittal said in this morning's earnings call.
    • Shares +5.7% premarket after reporting improved Q3 results and offered an optimistic outlook; analysts say the results probably would prompt market upgrades of core profit forecast by 2%-4%.
    | Nov. 7, 2013, 7:46 AM
  • Jul. 26, 2013, 9:56 AM

    Siderurgica Nacional (SID +5%) pops at the open after reports say talks concerning the purchase of two ThyssenKrupp steel plants broke down; the apparent sticking point is the price of the Alabama facility. An agreement in principle to buy a ~33% stake in ThyssenKrupp's plant in Brazil could be jeopardized; SID wants control of both plants, and sources say if it can’t have both, it might walk away.

    | Jul. 26, 2013, 9:56 AM
  • May 7, 2013, 3:26 PM

    Vale (VALE +3%) says it hasn't been contacted by ThyssenKrupp about a reported proposal to increase its stake in a troubled Brazilian steel mill. The German steelmaker is seeking to sell two plants in the Americas, including one near Rio de Janeiro in which Vale has a 27% stake. One proposal was said to have Vale increasing its stake in the mill to 33%.

    | May 7, 2013, 3:26 PM
  • May 3, 2013, 3:31 AM

    ThyssenKrupp AG (TYEKY.OB, TYEKF.PK) +5% in Frankfurt on news Companhia Siderrgica Nacional (SID), Brazil's No.3 steelmaker, has reportedly emerged as the leading bidder for its Brazilian and U.S. steel-plant assets. For now, ThyssenKrupp remains in parallel negotiations with Vale (VALE) and the Brazilian gov't for the assets. ThyssenKrupp has spent the last year figuring out how to dispose of the unprofitable plants.

    | May 3, 2013, 3:31 AM
  • Apr. 30, 2013, 12:22 PM

    Latin American steelmaker Ternium (TX +5.1%) surges higher after saying it won’t pursue a purchase of ThyseenKrupp's (TYEKF.PK) steel plant in Rio de Janeiro state in Brazil because of its valuation and industry conditions in Brazil. TX says it is assessing alternative growth options after backing out of the bidding process. (Q1 earnings)

    | Apr. 30, 2013, 12:22 PM
  • Jan. 9, 2013, 12:39 PM

    ArcelorMittal (MT -3.8%) has submitted a bid to ThyssenKrupp (TYEKF.PK) reflecting its interest in purchasing the German steelmaker's steel plant in Alabama, MT's CFO says. A successful bid would strengthen MT's presence in the U.S. automotive sector while stemming losses at Krupp, which suffered huge cost overruns and massive losses during the ramp-up of the Alabama plant.

    | Jan. 9, 2013, 12:39 PM
  • Nov. 30, 2012, 3:11 PM

    Brazilian steelmaker CSN (SID -6.6%) is offering to buy ThyssenKrupp's plants in the Americas for ~$3B, Bloomberg reports. ThyssenKrupp announced in May that a sale of its U.S. and Brazilian plants is among strategic options amid rising building costs and project delays.

    | Nov. 30, 2012, 3:11 PM
Company Description
ThyssenKrupp is a diversified industrial group. It has around 180,000 employees in over 80 countries developing ideas and innovations into solutions for sustainable progress.
Industry: Electric Utilities
Country: Germany