Only four months after signing a letter of intent the Italian TAD Group and ThyssenKrupp Acciai Speciali Terni SpA have closed their negotiations. ThyssenKrupp Acciai Speciali Terni is to take over the service centres and the trading business of TAD Metals SpA and Steel Sider SpA on the Italian stainless steel market effective 1 May 2003 (volume per year about 60,000 metric tons stainless steel, 10,000 metric tons other steel products, sales exceed EUR 130 million). The contract has been signed subject to the approval of the respective Supervisory Boards and the Italian anti-trust authorities. The Executive Boards of ThyssenKrupp AG and ThyssenKrupp Steel AG have already approved the deal.
