Steel Products
Bertin Eichler To Leave ThyssenKrupp Supervisory Board
Written by Sandy Williams
January 14, 2013
Written by: Sandy Williams
ThyssenKrupp continues to cull members of its boards for roles in the failed ThyssenKrupp AG venture and for allegations of corruption. The latest member of a board to leave is Bertin Eichler, vice chairman of the ThyssenKrupp AG supervisory board. Eichler has been under investigation for misuse of company funds for foreign travel. Eichler will not run again for a board position in 2013
The investigation concerns trips that Eichler took trips with trade union representatives that were partly of a “touristic character.” According to the financial daily paper Der Handelsblatt, the trips included a side trip in Brazil to Rio de Janeiro and a Formula One racing event in Shanghai, among others.
Three executive board members were recently relieved of their duties, Olaf Berlien, Edwin Eichler, and Juergen Claassen, after an internal audit of their role in the Steel Americas project.
“The disaster with Steel Americas shows that our leadership culture has failed in many areas of the Company,” Chief Executive Officer Heinrich Hiesinger said last month. “There were obviously some who thought that rules, regulations and laws do not apply to everyone.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

Rig Counts Drop in US, Inch Up in Canada
The number of active oil and gas drilling rigs in the US dropped this week while Canada’s count increased by one, said oilfield services company Baker Hughes in its weekly report.

UAW President To Announce New Strike Plans on Friday Morning
The United Auto Workers (UAW) president Shawn Fain is scheduled to make an announcement on Facebook Live, according to the UAW International Union's Facebook page.
Sheet Lead Times Mixed, Plate Plummets
While lead times for sheet again had mixed movements this week, those for plate collapsed, according to SMU’s most recent market survey.

Biden to Meet EU Officials in Washington to Discuss Steel
US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.

Ford Pauses Work on $3.5B Battery Plant: Report
Ford Motor Co. said on Monday that it has stopped work at its $3.5-billion project for an electric vehicle (EV) battery plant in Michigan, according to media reports.