Hit by the weak economic scenario in both the Brazilian economy and the local steel industry, Brazil steelmaker Gerdau is reportedly to be looking to sell its Spanish specialty steel mill Sidenor, according to media reports on Thursday.
Spanish bank Santander is said to have contacted potential buyers for the asset in Spain. Sidenor employs about 2,250 people.
Last year, Gerdau tried to acquire French specialty steel producer Ascometal, so it could integrate it with Sidenor, but after a court dispute, Ascometal was sold to Sparkling Industrie, which had the support of the French government.