MOBILE, Ala., May 11, 2007
German Steelmaker To Build Alabama Plant
ThyssenKrupp AG Will Open $4.19B Steel Plant Employing Up To 2,700 Workers
-
A ThyssenKrupp employee at the company's Duisburg, Germany factory. The German steelmaker received a $400 million incentives package from the Alabama state legislature to open its first U.S. plant. (Getty Images/Volker Hartman)
-
Interactive Eye On The Economy In-depth features on U.S. markets, taxes, employment and the Federal Reserve.
The plant — set to open in 2010 and employ as many as 2,700 workers when fully operational — will be near Mount Vernon on the Tombigbee River in north Mobile County.
The company was lured by several tax breaks and a $400 million incentives package approved by the Legislature.
In a statement Friday morning, Gov. Bob Riley said a "project this size, with this amount of economic impact, comes along perhaps once in a generation."
The Duesseldorf-based company chose Alabama over Louisiana, which also had offered tax breaks.
Louisiana Gov. Kathleen Blanco said it was a "tremendous honor" to be one of two finalists among 20 states that had bid for the project.
"Our success with this project demonstrates Louisiana has established a stronghold in the global economy and can successfully compete for world-class projects," she said in a statement.
The Alabama plant would be ThyssenKrupp's first steelmaking operation in the United States.
The plant would be "an integral part of the company's plan to increase growth in the steel and stainless steel division in North America and Europe," supervisory board chairman Ekkehard Schulz said in a statement.
The company said that once the plant is up and running, it could create as many as 38,000 new jobs related to the mill, from suppliers to transportation to dining and entertainment.
In a statement, Bob Soulliere, president and CEO of ThyssenKrupp Steel and Stainless USA, said factors in choosing Alabama included "logistical considerations of the company's supply chain from Brazil to our projected customers; operating costs such as electricity and labor; and site specific capital expenditures."
The facility will have an annual capacity of 4.1 million metric tons of carbon steel end products.
© MMVII The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
More From Business
Best-selling author Mitch Albom on his first nonfiction work since "Tuesdays with Morrie."
Complete : With low - end paying jobs ! ! !
Also like - Dalmer-Chrysler
The banks and banking system :
Will stay in Germany ! ! !
They will get the money.
For the steel they sell - Then send that money to a bank :
"In Germany."
The Japanese, were the first to do it.
Then The French
Then The Germans
They will take the technology, along with the plant designs.
With the money, they have sent to the German Banks
They will build another, identical operating plant.
Outside, of the U.S. - - With cheaper labor.
Then they will put both of them, in competition with other.
Then complain : The American labor market is too high.
Then sell or close the plant.
It's an age old scam - been going on for decades.
No more investment in the U.S.
Except - for the memory of : Low paying jobs.
Lastdance
Complete : With low - end paying jobs ! ! !
Also like - Dalmer-Chrysler
The banks and banking system :
Will stay in Germany ! ! !
They will get the money.
For the steel sold - Then send that money to a bank :
"In Germany."
The Japanese, were the first to do it.
Then The French
Then The Germans
They will take the technology, along with the plant designs.
With the money, they have sent to the German Banks
They will build another, identical operating plant.
Outside, of the U.S. - - With cheaper labor.
Then they will put both of them, in competition with other.
Then complain : The American labor market is too high.
Then sell or close the plant.
It's an age old scam - been going on for decades.
No more investment in the U.S.
Except - for the memory of : Low paying jobs.
Lastdance