According to sources, Luxembourg-based steelmaker ArcelorMittal has taken over Brazil's Companhia Siderurgica do Pecem. The company completed its acquisition for approximately US$2.2 billion. Companhia Siderurgica do Pecem has proposed to create a low-carbon steel production plant.
This acquisition of ArcelorMittal will provide strategic benefits, such as the company's in-group slab supply and increased sales to the North and South American markets, the expansion of the company's position in the Brazilian steel industry and the increase in production thanks to the possibilities offered by the port of Pecem.
Comments
No comment yet.