Bidders Queue for ThyssenKrupp
On the auction block: ThyssenKrupp twin mills in Mobile County (above); ThyssenKrupp plant in Brazil (below right)
Eight bidders answered ThyssenKrupps’ call for bids for its Alabama and Brazilian steel facilities, Bloomberg Businessweek is reporting.
In addition to U.S. Steel and Nucor Corp., both of which have operations in Alabama now, bidders include ArcelorMittal, based in Luxembourg; Nippon Steel and Sumimoto Metal Co., based in Japan; JFE Holdings Inc., also based in Japan; Compania Siderurgica Nacional, based in Brazil; Ternium SA, based in South America but headquartered in Luxembourg, and Korean Posco are all identified as bidders.
ThyssenKrupp spent some $5 billion on twin plants in Alabama. It has an agreement in progress for the stainless mill, and hopes to recoup the cost of the other mill, as well.
Any sale could take up to two years to complete, officials for ThyssenKrupp have said.
Meanwhile, sister company ThyssenKrupp Materials announced plans for a new materials processing and distribution center in Bibb County. The $13 million plant, which is expected to employ 45 people, will handle carbon and stainless steel and aluminum, preparing materials designed for automotive and appliance use. Bibb County is adjacent to Tuscaloosa County, home of Alabama’s Mercedes-Benz plant.