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Brazilian CSN interests in Thyssen unit
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Reportedly, Companhia Siderurgica Nacional (CSN), the second largest producer of flat steel product in Brazil is likely to take ThyssenKrupp’s joint venture in local slab-making mill CSA.
According to Benjamin Steinbruch, the chief executive officer of CSN, the details are made available. The Spokesman for CSN in Sao Paulo also confirmed the comments but decline to elaborate.
In the background, ThyssenKrupp is looking to sell its stake in the mill as it struggles with delays and cost overruns that led it to report a loss last year.
The giant CSA mill, 73% owned by ThyssenKrupp with the remainder held by Brazil mining giant Vale, is the largest foreign investment in Brazil in the last decade at an estimated cost of US$9 billion.
News Date
6/18/2012 8:42:40 AM
reported by
Kate Hsieh
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