RE: thyssen krupp ThyssenKrupp said today that it has hired Goldman Sachs and Morgan Stanley to review strategic options for its steel plants in Brazil and Calvert.
On May 15, 2012 the Executive Board of ThyssenKrupp AG announced its decision to examine strategic options in all directions for the Steel Americas plants in Brazil and the USA. This may involve a partnership or sale to a best owner whose strategy can better utilize the outstanding quality and fundamental competitiveness of the plants.
To support the examination of the strategic options, the Executive Board of ThyssenKrupp AG has now mandated the banks Goldman Sachs and Morgan Stanley. The strategic review is being carried out with an open mind and in parallel with the further technical and commercial optimization of the plants.
ThyssenKrupp AG decided on an integrated strategic development program to move the Group forward competitively and sustainably back in May 2011. The program encompasses portfolio optimization, change management, and performance enhancement. In connection with the portfolio optimization, transactions have already been completed or signed for over 90% of the sales volume up for disposal.