ThyssenKrupp to upgrade stainless facility

ThyssenKrupp AG intends to reduce the effect of nickel prices on its stainless steel unit by upgrading a facility to produce a type of the alloy that does not require nickel. The company can boost its ferritic stainless steel output by constructing new facilities in Krefeld, Germany, replacing the plant in Benrath. The Benrath plant will cease operations in 2015 at which point the EUR 244 million Krefeld site will take over, maintaining production. Currently, ferritic stainless steel accounts for 30% of ThyssenKrupp’s stainless steel output.

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