ThyssenKrupp's Steel Americas to post major loss -paper
FRANKFURT, Sept 7
FRANKFURT, Sept 7 (Reuters) - ThyssenKrupp's Steel Americas business is heading for a full-year operating loss of more than 1 billion euros ($1.26 billion), German daily Financial Times Deutschland reported, citing no sources.
The paper said on Friday that the German company's Steel Europe unit was meanwhile expected to post earnings before interest and tax (EBIT) of 200-300 million euros in the financial year ending on Sept 30.
The technology business will post full-year EBIT of 1.6-1.8 billion euros, FT Deutschland said.
That would put ThyssenKrupp on track to reach its full-year target for adjusted EBIT in the hundreds of millions of euros.
ThyssenKrupp, which plunged to a net loss last year as expansion costs weighed in Brazil and the United States, has been hit by weakening demand and rising material prices in the U.S.
The company declined to comment on the report, saying: "The figures for the full year 2011/12 will be published at the annual press conference on Nov. 22."
In the first nine months of its financial year, ThyssenKrupp posted EBIT of 339 million euros, down almost three quarters from the year-earlier period due to persistent losses at Steel Americas, which the company is trying to divest, and an 81 percent drop in profit at Steel Europe. ($1=0.7915 euros) (Reporting by Maria Sheahan; Editing by Mike Nesbit)
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