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ThyssenKrupp plans to close a plant for the production of stainless steel

16 September 2013

Manual famous German corporation «ThyssenKrupp» plans to close its steel mill in Neuwied (Germany). The decision on making such changes to the list of the existing assets of the organization's management structure was made in the course of implementation of the program reduce the costs of its European division. This closure will result in too large reduction in the total number of jobs in the «ThyssenKrupp»: from the state of the company (according to previously published data — is 182 000 persons) can be fired 320 employees.

Recall that the plant, located in Neuwied, engaged in production of stainless steel sheet, used in automotive and mechanical engineering. As mentioned above, its closing market analysts attributed to attempts by financiers German corporation to optimize its balance sheet. Earlier it was reported that the company «ThyssenKrupp» for the first three quarters of the current fiscal year increased its loss (compared to the same period of fiscal year 2012) to 23%. Thus, the amount of its losses during this period amounted to EUR 1.2 billion, whereas in 2012 this figure amounted to EUR 0.98 billion.

The foreign media also reported that some time ago the owners of «ThyssenKrupp» stated the possibility to leave their property «Steel Americas» assets, which the company tried to sell for sixteen months. This is due to the fact that the management of the group could not agree on a price with potential buyers of steel plants in Brazil and in the US (we are talking about assets in Alabama). Previously, as a buyer of Brazilian corporation called «Companhia Siderurgica Nacional» (CSN), which is in negotiations with the (unconfirmed by official sources) figured the price at 1.5 billion. Dollars. This is significantly less than the «ThyssenKrupp» expectations, whose owners had planned to gain from the sale of US $ 4.5 billion capacity.

As is known, the corporation «ThyssenKrupp» is one of the world's leading technology corporations. The company is engaged in such activities as the production of steel (including — stainless formulations), release of industrial products and equipment (among them — machine tools, elevators, escalators), as well as technological and service of various types of equipment.

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