It is reported that after a failed expansion plan, Japan's Itochu Corp., has blueprinted to keep its shares in a Brazilian iron-ore venture with Cia Siderurgica Nacional SA (CSN), the largest fully integrated steel producer in Brazil and one of the largest in South America in terms of crude steel production as Itochu intends to build up its commodity business, not sell assets. Itochu, together with JFE Holding Inc is in control of 40% of Nacional Minerios SA while CSN possess the remaining 60% of the venture.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67101&division=A9
