• Will the NPA stand up?

    Solly Moeng wonders if the NPA head will reinstate criminal charges against president Zuma.

  • Commodity currency

    Jac Laubscher asks if the true exchange rate of the rand is really a cue from commodity prices.

  • Accoutable government

    Mandi Smallhorne says government should be taken to court for its wasteful expenditure.

All data is delayed
Loading...
See More

Steel giants bid for ThyssenKrupp plant

Jan 30 2013 12:30
AFP

Tokyo - The world's two biggest steelmakers are planning to bid for a US steel plant operated by Germany's ThyssenKrupp, a Japanese media report said on Wednesday.

ArcelorMittal and Japanese rival Nippon Steel & Sumitomo Metal are in final talks over a joint plan to buy the factory in the state of Alabama, the leading Nikkei business daily said.

ThyssenKrupp's factory is estimated to be worth $1.43bn, the report said, without saying how much the pair would bid.

But ThyssenKrupp has said it would likely lose money on the sale of the state-of-the-art plant, which only came online in 2010.

Nippon Steel, which became the world's second-biggest steelmaker following its merger with Sumitomo last year, declined to comment on the report.

Luxembourg-based ArcelorMittal and the Japanese giant already jointly produce steel for automobiles in the United States, with improving US vehicle demand sparking their interest in boosting production, the Nikkei said.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

arcelormittal

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...