October 08, 2008

ThyssenKrupp aims for revenue growth from higher prices

It is reported that ThyssenKrupp expects revenue growth at its carbon-steel segment to come from higher prices as shipments are expected to remain flat this year.

Mr Karl Ulrich Koehler head of ThyssenKrupp Steel on the sidelines of a news conference at the official opening ceremony of its new Blast Furnace 8, said that "A range of 4% to 8% growth in revenues is possible.

Mr Koehler said that "The most recent positive signals in the market give us confidence that we will realize this target of higher prices already in the next quarter and thus cushion the cost pressure from energy and raw materials."

He said that a critical number of its key annual steel shipment contracts starting in January were already concluded with price increases ranging from EUR 50 per tonne to EUR 70 per tonne.