ThyssenKrupp: Talks over sale of Alabama plant
FRANKFURT, Germany (AP) — German steel company ThyssenKrupp AG says it’s in “exclusive negotiations” about the possible sale of its 3-year-old steel plant in Alabama.
It said late Tuesday the outcome of the talks is still open, and its news release didn’t name the potential buyer.
The Essen-based company put off announcing its financial statements from Thursday until Dec. 2 as a result of the talks.
The Calvert, Alabama, plant began working in 2010, processing slab steel from another new plant in Brazil. A fall in steel prices has led to losses for the company and large writedowns for the reduced value of the plants.