Mittal SA acquires two steel mills in Mozambique

Mittal Steel South Africa has bought two ruined steel mills in Mozambique with a view to expanding its presence on the continent. The $11.45-million (around Rand 89.4 million) purchase is the first Mittal Steel SA has made outside of South Africa. Mittal Steel SA has acquired the plant and equipment of the Companhia Siderugica De Mozambique (CSM) and the Companhia Mozambique De Trefiloria (Trefil) from the Mozambican government. CSM was a rod mill and Trefil a wire drawing facility. Mittal is planning to increase the production of these mothballed facilities within two years to 72,000 tons and 32,000 tons per annum, respectively.