ThyssenKrupp to retain Europe business

摘要

German steelmaker ThyssenKrupp is not ready to spin of its European steel division until further improvement is made in its performance, following a number of loss-making years. “This is a good thing, but our long-term contract structures mean there is a delay in increased raw material and steel prices feeding through to our revenues and earnings. In ad- dition, there were temporary production restrictions, largely due to the relining of blast furnace 1 initiated in Duisburg in the third quarter,” chief fnancial ofcer Klaus Keysberg said. “The positive efect on earnings will come. We will just see it later than our competitors.”