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11:03 August 14th, 2008

Steelmakers show industrial Germany is weathering downturn

Posted by: Louise Ireland
Tags: Uncategorized, , , , , , , ,

steel2.jpgIt’s not all doom and gloom — just ask steelmakers.

Germany’s ThyssenKrupp and Salzgitter have both raised their profit forecasts, fuelled by demand from fast-growing China, India and Russia. Profits are soaring on sky-high prices for rolled and flat steel.

Both companies are cashing in on growth outside Europe, and they join Hochtief and Kloeckner who this week also showed that industrial Germany is insulated against a global economic slowdown.

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