CSN expects October asset sale

Thursday, 09 August 2018 00:02:54 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) expects to close by October this year the sale of two mills in Europe: Lusosider in Portugal and Stahlwerk Thüringen (SWT) in Germany. The company had initially expected a year-end asset sale in its Q1 earnings call.

CSN said it hired a bank to help it in the asset sale, but did not disclose a name. The company added that a “good currency exchange rate” and the positive momentum of its Portuguese mill is driving its willingness to sell the European assets.

CSN said it is also concluding a study about installing a new galvanizing line in Brazil with a capacity of between 350,000 to 400,000 mt/year, and an expected investment of BRL 800 million.

Most Recent Related Articles

US steel imports up 99.3 percent in January

Steel plate prices stable in Turkey

PBOC increases financial support for small and medium enterprises in China

Import HRC prices in India drop after booking from South Korea

Indian HDG exporters hike offers, small tonnages sold to Europe and Gulf