Luxembourg-based steelmaker ArcelorMittal has announced that it has completed the acquisition of Brazil-based high-quality slab producer Companhia Siderúrgica do Pecém (CSP) for approximately $2.2 billion, following receipt of customary regulatory approvals.
ArcelorMittal will be able to expand the activities of CSP, based on the incentives offered by the export processing zone, and the logistics offered by the port of Pecem, as SteelOrbis previously reported. In addition, given CSP’s location, there is an opportunity to create a new low-carbon steelmaking hub.
ArcelorMittal stated that it has the option to increase its capacity and add finishing facilities over the long-term.
CSP has a market share of 30-40 percent in the Brazilian domestic slab market.