CSN in talks to partner with Wheeling-Pittsburgh

US steelmaker Wheeling-Pittsburgh Corp. confirmed Friday it is in talks with Brazilian steel giant Companhia Siderurgica Nacional (CSN) for CSN to possibly buy a stake in the company. The companies have stated that they "are in discussions concerning a strategic alliance in North America that could involve a minority investment in Wheeling-Pittsburgh Corp, a long term slab supply arrangement and other strategic considerations." Wheeling-Pittsburgh told press that the relationship would be beneficial to each company as Wheeling-Pitt needs more slabs than it can manufacture and CSN has excess slab-producing capacity. Wheeling-Pitt also produces products that CSN needs for its US plant in Terre Haute, Indiana. Neither company has specified a timeline for the sale.