Brazilian flats steelmaker Usiminas said late Wednesday it will restructure its industrial service business Usiminas Mecânica (UMSA).
Usiminas said UMSA, which used to provide industrial services, will now only provide services to Usiminas-related companies. The company said pending projects will still be completed.
The flats producer said UMSA has seen declining generation of cash flow over the past five years, and it isn’t a “core business” of Usiminas.