FRANKFURT Jan 12 Germany's largest steel maker
ThyssenKrupp wants eventually to revive efforts to sell its
Brazilian steel mill after failing to find a buyer for the asset
in 2013, a German radio station reported.
ThyssenKrupp in late November sold its U.S. plant to two
rivals in a long-awaited deal to help extricate it from an
ill-fated expansion plan, but failed to name a buyer for the
"It has to be said very clearly that in the medium- to
long-term we do not want the Brazil plant at ThyssenKrupp,"
Chief Executive Heinrich Hiesinger told Deutschlandfunk, adding
he did not want to specify a date when the sale could be
The sale of the U.S. plant and a simultaneously announced
capital increase are helping ThyssenKrupp cut its debt pile to
just over 3 billion euros ($4.1 billion), Hiesinger said,
according to the radio interview aired on Sunday. "If we
continue 1 to 2 years in this direction, then we will further
cut our debt and go into the direction of being debt-free," he
Weekly Der Spiegel quoted Hiesinger as saying: "We have to
double our earnings before interest and taxes." The magazine did
not specify which period Hiesinger was referring to.
At ThyssenKrupp's annual meeting on Friday, Hiesinger will
face tough questions from shareholders over the progress that
the company has made in its transformation from a 200-year-old
steelmaker to a modern high-tech engineering conglomerate.