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Capital market-relevant press releases, 2003-02-19, 01:00 AM

ThyssenKrupp Stahl acquires Galmed

ThyssenKrupp Stahl AG signed a contract with the Arcelor group under which ThyssenKrupp Stahl will acquire 75.5% of the shares in the Spanish hot dip galvanizer Galmed, which has an annual capacity of 400,000 metric tons. ThyssenKrupp Stahl already purchased a 24.5% interest in Galmed in 1993. "Full ownership will give us direct access to the high-growth Spanish automobile market. It is a further step in our strategy of internationalizing our downstream activities," says Dr. Karl-Ulrich Köhler, chief executive of ThyssenKrupp Stahl AG. The move is part of ThyssenKrupp Stahl`s response to the increasing globalization of its automotive customers. Arcelor has to dispose of its shareholding under requirements imposed by the regulatory authorities in Brussels. The contract will now be presented to the European Commission for approval, following which the shares will be transferred.


ThyssenKrupp Steel AG

Erwin Schneider
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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