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Company News, 2002-08-22, 02:00 AM

ThyssenKrupp Steel granted exemption from US safeguard tariffs for 82,600 tons of flat steel

For the important core business of ThyssenKrupp Steel AG with the US auto industry, a total of 82,600 tons of high-grade hot-dip galvanized sheet are to be exempted from the substantial safeguard tariffs in the ongoing Section 201 investigation. This sheet is mainly used in body interior parts. The US authorities announced this exemption on August 22, 2002.

Dr. Ulrich Middelmann, Executive Board Chairman of ThyssenKrupp Steel AG, welcomes the decision: "The American authorities took a long time examining the requests, but they have shown that they have not blindly followed the arguments of the American steel industry. However, we are disappointed with the volume because our long-standing supplier-customer relationships in the USA have not been adequately taken into account. The decision means that we initially remain able to act and we are therefore demanding that the exemption process be continued."

The American authorities considered a number of factors in making their decision. In addition to the customers in the USA, above all the German Government but also the European Commission made a major contribution in getting the facts across.

In all, the individual companies of ThyssenKrupp Steel AG or their customers have requested exemptions of around 360,000 tons per year. Including the now approved exemption, a total of 137,000 tons have been freed from the tariffs. On the remaining requests, too, there are many reasons for this material to be exempted.

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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