Thyssen Krupp may drop plans for new stainless steel plant in US
German steelmaker ThyssenKrupp is thinking about dropping plans for its stainless steel plant in the U.S., but it hasn’t made a decision yet, according to a spokesman for the company’s steel division.
It also is looking at delaying the start of operations at its steel plant that is already under construction, the spokesman added.
ThyssenKrupp also has a plant under construction in Brazil, where it also examines a possible delay of the production start.
The costs for both construction projects has risen well above the originally planned amounts.
The company is struggling with sapping demand due to the economic crisis. For fiscal 2009, ending Sept. 30, it expects a pretax loss before major non- recurring items in the medium to high three digit million euro range. In fiscal 2008 the company generated a pretax profit of EUR3.128 billion.
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In no way has the scope been changed for the ThyssenKrupp Stainless USA plant. This includes our previously announced schedule for the cold rolling works and the melt shop. Consistent with our previous statements, ThyssenKrupp is maintaining flexibility in terms of scheduling to optimize the project in Calvert, according to U.S. market conditions.
Mary Mullins
Director of Communications
ThyssenKrupp Stainless USA