ThyssenKrupp AG sells two steel units

ThyssenKrupp AG sells two steel units

German steel producer ThyssenKrupp AG has recently announced that it has sold two of its steel units for €175 million ($216 million) to focus on flat rolled steel production. The units, Krupp Edelstahlprofile (KEP) and Berkenhoff were sold for €100 million and €75 million, respectively. In 2003-04 fiscal year, KEP recorded sales of around €370 million, while Berkenhoff recorded sales of around €90 million. KEP, which produces specialty steel long products, has been purchased by Schmolz + Bickenbach GmbH of Düsseldorf. Berkenhoff, a producer of nonferrous metal wire, has been sold to a financial investor.