Usiminas in talks with Brazil's CSA for steel slab supply contract

23 June 2017

Usinas Siderurgicas de Minas Gerais SA, Brazil's No. 1 listed flat steelmaker, has signed a memorandum of understanding to buy slabs from ThyssenKrupp AG's CSA Cia Siderurgica do Atlantico SA for about 60 months.

In a Thursday securities filing, Usiminas said the purchase of CSA's slabs will be funneled into the Cubatao mill. The transaction will only take effect once Brazil's antitrust watchdog Cade decides on the takeover of CSA by Ternium SA which is also a major shareholder in Usiminas, the filing said.