• Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

  • Fool's paradise

    Greece's new leader is in the same position as the ANC in 1994, says Leopold Scholtz.

Loading...
See More

Steel giants bid for ThyssenKrupp plant

Jan 30 2013 12:30 AFP

Related Articles

ArcelorMittal cuts 1 300 Belgian jobs

ArcelorMittal ignores new debt cut calls

Junk-rated ArcelorMittal raises $4bn

ArcelorMittal in $3.5bn share issue

ArcelorMittal to sell stake in Labrador

ArcelorMittal, CSN push for steel mills

 

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

NEXT ON FIN24X

 

Latest Articles

8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
15 Investment Tips for 2015 Read More...
 
 

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
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

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