CSN acquires stake in local flat rolled producer

Monday, 11 January 2010 23:00:23 (GMT+2)

Brazilian integrated steelmaker Companhia Siderurgica Nacional (CSN) announced Thursday that it has acquired a 9.4 percent stake in a local flat rolled service center and re-roller Panatlantica SA.

Panatlantica is located in the city of Gravatai, in the country's southern Rio Grande do Sol state.

In other CSN news, last month the company made an aggressive offer for Portuguese cement producer Cimpor. However, Cimpor rejected the takeover bid Thursday, saying the US$5.56 billion offer was hostile and undervalued the company.

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