Vale, Dongkuk Steel, POSCO to sell stake in CSP to ArcelorMittal
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Update time : 2022-08-01 22:05:58
Brazilian miner Vale announced that it will sell a 50% stake in the slab plant Companhia Siderurgica do Pecem (CSP) in the northeastern Brazilian state of Ceara to ArcelorMittal, saying that this sale was in line with its strategy to simplify its portfolio.
Besides, South Korea’s Dongkuk Steel Mill Co, Ltd., and POSCO Holdings Inc. will also sell their stake of 30% and 20% to ArcelorMittal, respectively.
ArcelorMittal confirmed in an announcement that this acquisition will provide the company with several strategic benefits, including the expansion of its potential in the growing steel industry in Brazil.
CSP, founded in 2008, has an annual production capacity of 3 million tons of steel slabs.
