Steel maker exports $A3.08b loss
29th November 2009
German steel maker ThyssenKrupp has reported a loss of 1.87 billion euros ($A3.08 billion) for the 2008-9 fiscal year.
The loss for the fiscal year that ended September 30 compared with a net profit of 2.3 billion euros the previous year for ThyssenKrupp, based in Duesseldorf.
The company said the drop was due to a number of restructuring charges and the impact of the global economic downturn on the steel industry. At the same time, the company faced construction costs for building up businesses in Alabama and Brazil.
Revenue fell 24 per cent to 40.5 billion euros ($A66.6 billion) from 53.4 billion euros in the previous fiscal year.
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