Ternium is considering a former Usiminas executive to lead recently acquired slab producer Companhia Siderurgica do Atlantico (CSA) in Brazil, according to a media report.
Marcelo Chara, a former executive at Brazil flats steelmaker Usiminas, could be appointed CSA’s new CEO, according to a media report from newspaper DCI.
Chara was ousted from Usiminas in 2014 over accusations he illegally received a bonus. At the time, he was Usiminas’ industrial vice president. According to the media report, Chara’s technical profile could help CSA become more competitive.
Ternium paid EUR 1.2 billion to acquire 100 percent of CSA, formerly known as ThyssenKrupp Companhia Siderurgica do Atlantico (CSA). Including debt, the deal was worth EUR 1.5 billion.