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Company News, 2003-05-12, 02:00 AM

ThyssenKrupp Veerhaven acquires shipping company EWT

ThyssenKrupp Stahl AG uses its own shipping company ThyssenKrupp Veerhaven, one of the most modern push-tow companies on the Rhine with a fleet of five pushboats and 53 barges, to ensure just-in-time delivery of the bulk raw materials iron ore and coal to its central steelmaking site in Duisburg. Based in Brielle near Rotterdam, ThyssenKrupp Veerhaven has now acquired a 100 percent interest in Europese Waterweg-Transporten (EWT) - a pushboat shipping company - from Nederlandse Rijnvaartvereeniging (NRV) to optimize its logistics chain. Both the latter companies have their registered offices in Zwijndrecht. A large part of the EWT fleet, which comprises two pushboats and 24 barges, has already been involved in transporting raw materials for ThyssenKrupp Stahl for some time under hire agreements.

ThyssenKrupp Veerhaven believes the acquisition will allow the realization of operating synergies and cost reductions. Combining the two companies will also help maintain pushboat capacities on the Rhine. Following the concentration of crude steel production in Duisburg and the construction of a new coking plant in Schwelgern, 20 million tons of imported iron ore and coal now need to be transported as efficiently as possible from the ARA ports (Amsterdam, Rotterdam and Antwerp) up the Rhine to Duisburg. The acquisition of EWT will help secure this important logistics chain on a long-term basis.

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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