ThyssenKrupp Net Income Almost Triples on Steel Price

Bloomberg.com: Germany

ThyssenKrupp AG, Europe’s fourth- largest steelmaker, said profit almost tripled in the fiscal first quarter as the company sold more steel at higher prices.

Demand for ThyssenKrupp’s products, which range from extra- light steel for car bodies to elevators, has “notably increased in an overall favorable economic environment,” ThyssenKrupp said in the statement. “The boom on the international steel market will continue this year.”