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Company News, 2002-09-30, 02:00 AM

Price increase for electrical steel

ThyssenKrupp Electrical Steel GmbH is to raise prices for non-grain-oriented (NGO) electrical steel by an average of 60 euros per ton for deliveries in 2003. The move is necessary in order to restore revenues to a satisfactory level. Prices in the electrical steel business fell sharply at the turn of the year 2001/2002. In the forthcoming round of price negotiations they are therefore to be adjusted in line with the positive environment on the flat steel market.

ThyssenKrupp Electrical Steel GmbH was founded on April 1, 2002 to pool the electrical steel activities of ThyssenKrupp Steel AG. In the fiscal year ending September 30, 2002 the company expects to achieve sales of approximately 800 million euros.

Contact:

ThyssenKrupp Steel AG

Erwin Schneider
Tel.: +49 203 / 52 - 2 56 90
Fax: +49 203 / 52 - 2 57 07
e-mail: erwin.schneider@tks.thyssenkrupp.com

Dietmar Stamm
Tel.: +49 203 / 52 - 2 62 67
Fax: +49 203 / 52 - 2 57 07
e-mail: dietmar.stamm@tks.thyssenkrupp.com

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