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Reuters: Steel Americas Cloud Hangs Over Germany's ThyssenKrupp
08/12/2013 - Pressure is growing on ThyssenKrupp to shore up its strained balance sheet by raising new capital as talks on selling its loss-making steel mills in the Americas drag on, according to a Reuters report.
Once a symbol of German industrial prowess, ThyssenKrupp has been trying for more than year to offload the mills in Brazil and the U.S. state of Alabama, together known as Steel Americas.
With quarterly results due this week, no agreement appears in sight despite its aim for a deal by the end of September. The longer talks last, the more the benefit of any proceeds is eaten up by losses at Steel Americas. These were over half a billion euros in the first half of ThyssenKrupp's financial year alone…
