ThyssenKrupp's sprawling USD 5 billion steel plant in North Mobile County could soon be shared by two owners.

According to a Reuters report, TK plans to keep the largest division of the plant which deals with carbon steel but is selling the stainless steel division.

The sale, which reportedly could be finalized next month, is not expected to affect the 550 employees who work in the stainless steel division at the Calvert plant.

Mobile County commissioners tell News Five that ThyssenKrupp signed a memorandum of understanding in exchange for a more than USD 800 million incentive package from the city of Mobile, Mobile County and the state of Alabama. The contract requires TK to employee a certain number of people or faces millions of dollars in penalties.

County Commissioner Mr Mike Dean said that "Whatever jobs we have agreed upon, we're still going to have those jobs regardless of who is running the plant."

(Sourced from www.2.wkrg.com)