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ThyssenKrupp Warns on Mill Costs

By

Jan Hromadko

Feb. 11, 2011 2:28 a.m. ET

FRANKFURT—ThyssenKrupp AG said Friday its first-quarter earnings fell due to higher-than-expected ramp-up costs and write-downs for two new steel mills in the U.S. and Brazil.

The German steelmaker and industrial conglomerate said net profit in the three months ended Dec. 31 before minority interests fell 48% to €101 million, compared with €195 million a year earlier. The company didn't immediately publish net profit after minority interest.

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