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ThyssenKrupp AG updates on disposal of its U.S. auto steel plant to Nippon Steel & Sumitomo Metal Corp and ArcelorMittal SA combined with contract for ThyssenKrupp CSA in Brazil

Friday, 29 Nov 2013 05:53pm EST 

ThyssenKrupp AG:Says its ThyssenKrupp Steel USA rolling and coating plant in Calvert/Alabama is being sold to a consortium of ArcelorMittal SA and Nippon Steel & Sumitomo Metal Corp (the Consortium).Says it will receive a purchase price of $1.55 billion from the Consortium.Says a long-term slab supply contract has been agreed to secure the value of ThyssenKrupp CSA in Brazil.Says the Consortium will also purchase two million tons of slabs per year from ThyssenKrupp CSA up to 2019.Says the transaction is subject to the approval of regulatory authorities in the USA and a number of other countries.