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ThyssenKrupp says 'bold step' into America warranted

Fri 13 Jun 2008

Construction begins this year on ThyssenKrupp's huge investment in America, which is now 28% more expensive that previously announced and includes a stainless steel meltshop. A TK executive says the investment should pay strong dividends.

“While our direct entry to the US market is perhaps a bold step, it is also a logical and forward-looking one. The stainless steel market throughout the Nafta region offers significant potential, and we are now poised to further strengthen our position," says Michael Rademacher, CFO of TK Stainless. The decision was announced on Friday by the company’s supervisory board.

The eventual Alabama site was narrowed from 67 locations. Steel Business Briefing understands that decisive factors included considerations of the company's supply chain from Brazil to customers, operating costs and site-specific capital expenditures.

The facility will include a hot strip mill to process carbon steel slabs from the TK’s Brazilian operation It will also house cold rolling and hot-dip coating capacity. The cold mill will initially produce 350,000 t/y.

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