Sources told Reuters that German multinational firm ThyssenKrupp was considering the sale of its only US plant as it tries to look for ways to dispose its Steel Americas business. Should the sale of its US plant push through, the German company would be left with the Brazilian mill it had been trying to sell for the past two years.
The Brazilian mill had faced technical and regulatory issues. It had also caused ThyssenKrupp loses. The sources stated that nothing had been finalized regarding the sale of the Brazilian mill.
Cia Siderurgica Nacional (CSN), another major steel manufacturer in Brazil, was touted as the company most likely to Steel Americas, but issues about price and the future role of ThyssenKrupp have been major setbacks. One of the sources said, "ThyssenKrupp has been hoping for a breakthrough for weeks, but nothing has happened." The Wall Street Journal reported on Monday that individuals familiar with the transaction will have ThyssenKrupp not selling the Brazil plant.
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