In an interview with Bloomberg, Massimiliano Burelli, CEO of Italy-based Acciai Speciali Terni SpA, a subsidiary of German steel producer ThyssenKrupp, has stated that the company could record a loss of around €190 million in its sales due to the effects of the US steel tariffs.
Mr. Burelli said that, if the European Union (EU) does not take safeguard measures against rising imports, about 10 percent of Acciai Speciali Terni’s sales revenues could disappear, adding that they cannot compete with China’s prices without safeguard measures.
Acciai Speciali Terni expects record sales revenues of €1.9 billion in the current financial year, ending September 30.