13 November 2009 - 13H13  

ThyssenKrupp posts record loss
German steelmaker ThyssenKrupp said that it had made a record loss of 2.36 billion euros (3.5 billion dollars) in its 2008/2009 fiscal year.
German steelmaker ThyssenKrupp said that it had made a record loss of 2.36 billion euros (3.5 billion dollars) in its 2008/2009 fiscal year.

AFP - German steelmaker ThyssenKrupp said on Friday that it had made a record loss of 2.36 billion euros (3.5 billion dollars) in its 2008/2009 fiscal year.

It attributed the loss to collapsing markets, restructuring charges and depreciated assets.

ThyssenKrupp added that sales in the year to September 30 had plunged by 24 percent to 40.6 billion euros.

In addition to steelmaking, the group manufactures elevators, submarines and yachts, and it has suffered heavily from the global economic downturn. Only the elevator division managed to post sales increases.

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