CSN and Usiminas disprove talks for consolidation

CSN and Usiminas disprove talks for consolidation

Top managements of the two Brazilian major steel producers, Usiminas and CSN, declared that reports regarding their merger are not true, adding that they have not even held any talks on the issue. As for the plans of the above cited companies for 2004; flat product producer Usiminas plans a capacity expansion of 400'000 tons, with 70% of the total production to be sold in domestic market, whereas CSN plans to sell 80% of its total production.