ThyssenKrupp works on buying Dofasco, selling US autos

0 Comments | AFP, August, 2006

DUESSELDORF, Germany (AFP) — ThyssenKrupp, the German heavy industry and steel giant has said it would continue to negotiate to take over Canadian steel maker Dofasco, which was snapped from under its nose earlier this year by rival Arcelor.

ThyssenKrupp also said it planned to divest its automotive activities in North America, representing annual sales of around one billion euros (1.28 billion dollars), and was already in negotiations with a number of potential buyers.

"In the next few days, the executive board will continue negotiations on the acquisition of the Canadian steel producer Dofasco," ThyssenKrupp said in a statement released following a meeting of the group's supervisory board on Friday.

At the beginning of this year, ThyssenKrupp and Arcelor...