Alabama stainless project downsized

ThyssenKrupp AG has announced plans to reduce its planned capacity at a unit of its Alabama stainless project by more than two thirds to help curb costs. Mr Alexander Wilke spokesperson of ThyssenKrupp said that the cold rolling mill will begin operations with a capacity of 100,000tns/yr in the second half of 2010 as against initial plan of 350,000tns. The meltshop of the Alabama stainless steel mill could be delayed by up to 24 months until fiscal 2013-14. ThyssenKrupp is seeking to slash debt amassed from building mills outside of Germany by selling subsidiaries, reorganizing its five units as two and shelving start ups of new plants.
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