Economy
Tuesday 05 April 2016
The industrial group ThyssenKrupp tightens the structures in Brazil. The joint venture with Vale at the CSA steel mill to be history. Thus, the company can begin to deal with the termination of the disastrous chapter in the country.
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ThyssenKrupp wants to be the sole owner of the Brazilian steel mill CSA. For this purpose, has the industrial and steel company with the minority shareholder, the Brazilian company Vale, agreed on the acquisition of its 26.87 percent stake. In return, an agreed “symbolic purchase price” as ThyssenKrupp announced. Add to this a sogenannnter debtor warrant in the event of a sale of CSA. The transaction must still approve the Supervisory Board of Deutsche. In addition, it requires the approval of regulatory authorities.
For ThyssenKrupp, we reduce by his own admission, complexity and risk. At the same time the company gets more room for maneuver in the further development of CSA. Analysts had berwertet positively the looming deal in recent days. This would make it easier for ThyssenKrupp, the steel mill for sale. In the past, complex contractual arrangements had been regarded as an obstacle in the sale.
More aboutThyssenKrupp had inaugurated the Brazilian plant in of 2010. However, the Group America expansion developed into a disaster. Of the approximately 12 billion euros, the ThyssenKrupp invested in the plant in Brazil and in a now sold plant in Alabama, the company had to write off a large part. Last prepared the consolidated production failures and increasing price pressure in Brazil problems. In the first quarter of the current fiscal year, the work in the country wrote an operating loss of 74 million euros.
The industry group employs claims to approximately 155,000 employees in nearly 80 countries.
Source: n-tv.de
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