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.


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