Brazilian steelmaker Usiminas plans to invest BRL 900 million ($312.7 million) in 2015, 18 percent less than it invested in 2014, according to data released by the company last week.
Facing a series of disputes between Ternium and Nippon Steel shareholders, as well as decreased iron ore prices, Usiminas is seeking to pursue a costs contention strategy, according to its president, Romel Souza.
Out of the $312.7 projected investments, Usiminas plant to use its own resources, which will compose most of the expected investments for the year, as well as BRL 270 million ($93.8 million) from loans and financing operations.
Last week, during a conference call with analysts, Souza commented on the current shareholder disputes between Ternium and Nippon. The executive said Usiminas’ strategy and focus is on the “continuity” of the company’s management. “There’s no change, we’re aligned in the search for the best results,” he said.