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Company News, 2003-03-24, 01:00 AM

ThyssenKrupp Steel receives US tariff exemption for 88,600 tons of flat steel

In the ongoing second round of the Section 201 exclusion process, ThyssenKrupp Steel AG has been exempted from substantial safeguard tariffs affecting a total of 88,600 tons of steel. This volume concerns almost exclusively the company`s important core business with the American automobile industry, to which it supplies high-grade coated sheet. The decision was announced by the Office of the United States Trade Representative on March 21. In December, customers of ThyssenKrupp Steel in the USA had submitted a total of 40 requests for exclusion covering a volume of just under 185,000 tons.

Dr. Ulrich Middelmann, Executive Board Chairman of ThyssenKrupp Steel AG, welcomes the decision: "We are glad that the US Administration has honored our long-standing supplier-customer relationships with American companies. We can now continue to deliver at competitive prices. We also interpret this as a further signal to the sector that the urgently needed restructuring of the steel industry in the United States is to be driven forward."

In total, companies of ThyssenKrupp Steel AG or their customers had requested exclusion for annual deliveries of around 360,000 tons. In the first round of tariff exclusion pleas last year, 137,000 tons of this amount were exempted from the safeguard tariffs imposed in March 2002.

Erwin Schneider Dietmar Stamm
Tel.: +49 203 52 - 2 56 90
Fax: +49 203 52 - 2 57 07

Dietmar Stamm
Tel.: +49 203 52 - 2 62 67
Fax: +49 203 52 - 2 57 07

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