ThyssenKrupp Returns to Profit, Prepares for Start-Up of Steel Mills in the Americas

SUGAR LAND--February 15, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--After three consecutive quarters of net losses, German steelmaker ThyssenKrupp AG (EPA:TKA) (Dusseldorf) returned to profit in the first quarter of the company's 2009-10 fiscal year. ThyssenKrupp's net income was 195 million euros ($265.5 million). While both orders and sales were down year over year, order intakes showed a notable upswing from the previous quarter, moving from 7.5 million euros ($10.23 million) of orders to 9.33 million euros ($12.7 million), an increase of more than 24%. In a conference call discussing the earnings, Chief Financial Officer Alan Hippe touched on the start-up of ThyssenKrupp's Steel Americas mills, comprising mills in Brazil and Alabama.