ArcelorMittal announced it has finished the acquisition of Companhia Siderurgica do Pecem (CSP), a high-quality slab producer in Brazil, for about US$ 2.2 billion.
This acquisition will add ArcelorMittal’s steelmaking capacity and rolling and finishing capacity. CSP presents to create a new low-carbon steelmaking site, targeting to develop a low-cost green hydrogen hub in Pecem.
Besides, it will also help to expand the sales to ArcelorMittal’s intra-group or to the North and South American markets. The long-term plan is to increase the capacity and add finishing facilities. It will also invest in a decarbonizing asset that delivers renewable energy.
Source: YIEH
|
