Brazilian steelmaker ArcelorMittal Brazil said on Thursday it has completed asset sales to Mexico’s Simec and Brazil’s Aço Verde as part of a deal with local anti-trust authority to merge longs operations with Votorantim Siderurgia.
Mexican steelmaker Simec will buy the Cariacica mill in the state of Espirito Santo, as well as the Itauna mill in Minas Gerais state. It will also purchase an undisclosed quantity of wire drawing equipment.
ArcelorMittal Brazil also sold other wire drawing equipment to Brazil’s Aço Verde do Brasil, in the state of Maranhão, which belongs to the Ferroeste Group. The Ferroeste Group was a new market entrant in late 2015. It has a 600,000 mt/year capacity.
ArcelorMittal Brazil said the transfer of the two sets of assets should be completed between May and June.