German Steelmaker Ponders Brazilian Mill Exit

ThyssenKrupp is considering the sale of its mills in Rio de Janeiro, it says, along with facilities in the US, as it struggles with cost overruns and delays. The German steelmaker may offer its slab-producing Brazilian plant to Vale, its partner and owner of more than 25%. The Brazilian and US assets are said to have a total book value of about EUR7bn ($8.86bn), according to news reports citing comments from CEO Heinrich Hiesinger. The company declines to comment further.