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Usiminas in talks with Brazil's CSA for steel slab supply contract
June 22, 2017 / 11:22 PM / 6 months ago

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

SAO PAULO (Reuters) - Usinas Siderúrgicas 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 Siderúrgica do Atlántico SA for about 60 months.

A general view of the Brazilian steelmaker Usiminas in Cubatao, Brazil, April 4, 2016. REUTERS/Paulo Whitaker

In a Thursday securities filing, Usiminas (USIM5.SA) said the purchase of CSA’s slabs will be funneled into the Cubatão mill. The transaction will only take effect once Brazil’s antitrust watchdog Cade decides on the takeover of CSA by Ternium SA (TX.N) - which is also a major shareholder in Usiminas, the filing said.

Reporting by Guillermo Parra-Bernal; Editing by Lisa Shumaker

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