ThyssenKrupp takes US$4.66 billion write-down to Steel Americas unit
December 12, 2012, 12:36 am TWN
BERLIN--German steelmaker ThyssenKrupp AG says it is taking a 3.6-billion-euro (US$4.66 billion) hit on the value of its Steel Americas unit.
The Essen-based company says the write-down follows a reassessment prompted by efforts to sell the unit's plants in the United States and Brazil.
The announcement came as ThyssenKrupp on Monday posted heavy losses for the fiscal year ending Sept. 30.