TK to delay steel production

Published 2:13 am Monday, January 26, 2009

By Staff
ThyssenKrupp, a German steelmaker building a plant in north Mobile County, announced Friday it would delay production of stainless steel at the facility by a year.
Production on stainless steel was to have begun in 2009, with production of carbon steel to follow the next year.
Company officials, according to published reports, said the move was necessitated by market conditions.
Alabama Gov. Bob Riley said he was disappointed by the decision. He emphasized that construction continues - as do the jobs that go along with that construction.
TK's $4.6 billion facility represents the largest private economic development venture in the country.
The state offered an incentive package worth $800 million - including funds from Mobile and Mobile County - to lure TK to Alabama.