DUESSELDORF, Germany, March 1 Bids are coming in
for ThyssenKrupp's loss-making steel mills in Brazil
and the United States, its chief executive said.
Heinrich Hiesinger had not yet seen the bids and declined to
comment on the prices, he told journalists in Duesseldorf on
The deadline for final bids was expected on Feb, 28, people
familiar with the matter had previously told Reuters.
The world's big steel companies have joined forces in the
bidding process. Japan's JFE Steel has teamed up with
U.S. Steel, while ArcelorMittal and Nippon Steel
are making a joint bid, sources have said.
Brazil's Cia Siderugica Nacional (CSN) has also secured
financial support from state development bank BNDES for a bid.
ThyssenKrupp heavily wrote down the value of the Steel
Americas unit to 3.9 billion euros ($5.1 billion) in December.
It had wanted to carve out new markets with two mills in Brazil
and the U.S. but they were hit by cost overruns, poor project
management and weaker than expected demand.
Hiesinger said the group hoped a deal could be completed by
the end of September, the end of Thyssen's fiscal year.