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August 27, 2015 8:28 PM ET

Metals and Mining

Company Overview of ThyssenKrupp Steel Europe AG

Company Overview

ThyssenKrupp Steel Europe AG manufactures and supplies steel and steel materials. The company offers hot strips, heavy plates, sheet/coated products, organic coated strips and sheets, composite materials, electrical steel products, tinplates/blackplates, and medium-wide strips. Its byproducts include components for the cement production and the construction of roads, tracks, and hydraulic engineering; converter limes for the production of fertilizers; iron oxide as raw material for the iron industry; and products for other applications. The company serves automotive/trucks, construction, machine and plant engineering, energy, special-purpose vehicles, packaging, and household industries in G...

Kaiser-Wilhelm-Strasse 100

Postbox 47161

Duisburg,  47166

Germany

Founded in 1997

Phone:

49 203 52 0

Fax:

49 203 52 25 102

Key Executives for ThyssenKrupp Steel Europe AG

Chairman of Executive Board, Chief Executive Officer and President
Age: 51
Chief Financial Officer and Member of the Executive Board
Age: 46
Chief Human Resources Officer, Labor Director and Member of Management Board
Age: 58
Head of Stainless Division
Age: 50
Head of Communications for Business Area Steel Europe
Compensation as of Fiscal Year 2015.

ThyssenKrupp Steel Europe AG Key Developments

Steel Europe Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2015

Steel Europe reported earnings results for the third quarter and nine months ended June 30, 2015. For the quarter, the company contributed adjusted EBIT of EUR 166 million, the high in 15 quarters. For the nine months, Order intake and sales at EUR 6.5 billion each were 5% and 2% respectively lower than a year earlier against sales of EUR 6.7 billion year ago, on a comparable basis the decreases were 6% and 3% respectively. Measures implemented under the "Best-in-Class Reloaded" program continued to have a significant positive impact on earnings. This includes the substantially reduced losses at Electrical Steel following restructuring measures. Adjusted EBIT was EUR 358 million almost doubled compared with the prior-year period of EUR 185 million.

ThyssenKrupp Steel Europe AG Announces Board Changes

ThyssenKrupp Steel Europe AG announced the appointments for the Steel Europe business area with the appointments of Andreas Goss as CEO and Thomas Schlenz as CHRO and Labor Director were extended. Premal Desai will be appointed as a new member of the management board with effect from January 1, 2015. Currently chief strategist for the ThyssenKrupp Group, Desai will take over as the business areas Chief Financial Officer with responsibility for Controlling, Accounting & Risk, Information Technology, Purchasing Raw Materials/Energy & Materials Management and Compliance. Desai joined ThyssenKrupp in 2006 and among other things has headed the Groups own Management Consulting unit as well as Corporate Technology/Innovation/Sustainability. In addition to his position as chief strategist he is currently also responsible for Corporate Affairs. Before joining ThyssenKrupp Premal Desai worked for The Boston Consulting Group.

ThyssenKrupp To Keep ThyssenKrupp Steel Europe

ThyssenKrupp AG (XTRA:TKA) is holding on to ThyssenKrupp Steel Europe AG, a company spokesman said, responding to speculation that a sale could help its current restructuring efforts. "We've always said that we want to keep the steel business," the spokesman said. German magazine Focus, citing no sources, reported that ThyssenKrupp Chief Executive Heinrich Hiesinger had told an internal leadership meeting it was wrong to believe that a sale of the European business could support the company. Hiesinger in August 2013 dismissed any speculation on a possible sale of Steel Europe as "nonsense", but such talk has resurfaced due to ThyssenKrupp's weakening finances.

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