In the wake of the price increase for carbon steel flat products previously announced by ThyssenKrupp Steel AG, prices for stainless steel flat products and precision strip are now also being raised. Effective April 1, 2004, ThyssenKrupp Nirosta GmbH, Germany, and ThyssenKrupp Acciai Speciali Terni S.p.A., Italy, will be increasing their base prices for flat-rolled products of stainless and heat-resistant steels by 50 euros per metric ton. This applies to new orders in all product areas for delivery to all countries in Europe. Demand in this region has increased recently.

The reasons for this decision are substantial cost increases for starting material, which are not covered by alloy surcharges, and significantly increased energy and personnel costs.

For the same reasons, ThyssenKrupp Nirosta Präzisionsband GmbH is also raising its base prices for new orders in all sales segments by 5%, effective immediately.

Part of the Stainless Steel business unit, the two European stainless companies produce flat-rolled products of stainless and heat-resistant steels and rank among the leading manufacturers in Europe. In fiscal 2002/2003, ThyssenKrupp Nirosta produced 1.1 million metric tons of stainless flat products and achieved sales of 1.8 billion euros. ThyssenKrupp Acciai Speciali Terni had sales of 1.5 billion euros and production of just less than 1 million metric tons.

Based in Schalksmühle, ThyssenKrupp Nirosta Präzisionsband GmbH was formed as a wholly-owned subsidiary of ThyssenKrupp Nirosta GmbH, Krefeld, on October 01, 2003. It produces stainless steel precision strip in widths up to 650 mm and thicknesses between 0.05 mm and 1.5 mm. It is one of the leading suppliers of precision strip in Europe.

More information: www.nirosta.de or www.nirosta-praezisionsband.de.

Contact:

ThyssenKrupp Steel
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