SOURCE: Industrial Info Resources

Industrial Info Resources

February 15, 2010 05:00 ET

ThyssenKrupp Returns to Profit, Prepares for Start-Up of Steel Mills in the Americas, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 15, 2010) -  Researched by Industrial Info Resources (Sugar Land, Texas) -- After three consecutive quarters of net losses, German steelmaker ThyssenKrupp AG (EPA:TKA) (Dusseldorf) returned to profit in the first quarter of the company's 2009-10 fiscal year. ThyssenKrupp's net income was 195 million euros ($265.5 million). While both orders and sales were down year over year, order intakes showed a notable upswing from the previous quarter, moving from 7.5 million euros ($10.23 million) of orders to 9.33 million euros ($12.7 million), an increase of more than 24%. In a conference call discussing the earnings, Chief Financial Officer Alan Hippe touched on the start-up of ThyssenKrupp's Steel Americas mills, comprising mills in Brazil and Alabama.

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