CSN looking to buy ThyssenKrupp, Vale’s CSA

Friday, 12 June 2015 01:49:51 (GMT+3)   |   Sao Paulo
       

Brazil steelmaker Companhia Siderurgica Nacional (CSN) is said to be looking to acquire ThyssenKrupp and Vale’s Companhia Siderurgica do Atlantico (CSA), according to media reports.

A media report said the government of Rio de Janeiro is likely to support the deal, despite the fact that CSN has moved its headquarters from Rio de Janeiro to Sao Paulo. CSA has an integrated steel mill in the Sepetiba area, in the state of Rio de Janeiro, where it produces steel plates.

A joint venture between ThyssenKrupp and Vale, CSA reported a negative EBIT of EUR 19 million in the second quarter (Q2) of the 2015 fiscal year, reverting a positive EBIT of EUR 155 million a year ago, the company said recently.