Trade Resources Industry Views CSN Has Confirmed It Is Interested in Acquiring US-Based Gallatin Steel

CSN Has Confirmed It Is Interested in Acquiring US-Based Gallatin Steel

 Brazil steelmaker Companhia Siderurgica Nacional (CSN) has confirmed it is interested in acquiring US-based Gallatin Steel, according to a CSN executive.

"We've tried to enter in the Severstal deal and we didn't succeed. We're looking at Gallatin Steel now," said CSN's CEO, Benjamim Steinbruch, during the Brazil steel congress, which is being held in Sao Paulo and continues to Wednesday.

The executive did not disclose any details about how much CSN could pay to acquire the company.

Recently, CSN tried to acquire the US assets of Russian steelmaker OAO Severstal.

At the time of the deal, CSN participated in a bidding process to complete the deal, but it didn’t succeed.

Earlier this year, Severstal said the deal would be an "interesting option," as the Russian company seeks to increase profits and diminish debts.

Source: http://www.steelorbis.com/steel-news/latest-news/csn-looking-to-acquire-us_based-gallatin-steel-841596.htm
Contribute Copyright Policy
CSN Looking to Acquire US-Based Gallatin Steel
Topics: Metallurgy