SAO PAULO (AFX) - Arcelor said late Friday it plans to invest 4 bln usd over the next five years in its newly-combined Brazilian operations.
Arcelor Brazil will combine Belgo Mineira, Companha Siderurgica de Tubarao (CST) and Vega do Sul from October, bringing together a total capacity of about 11 mln tonnes of steel per year.
The new company will not include Acesita -- in which Arcelor holds 28 pct -- as there has been no deal with the group's other shareholders. Arcelor, however, has not ruled out a deal to bring it under the Arcelor Brazil banner at a later date.
Arcelor also said the merger of the Brazilian operations will save some 165 mln eur per year from 2006.
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Arcelor Brazil will combine Belgo Mineira, Companha Siderurgica de Tubarao (CST) and Vega do Sul from October, bringing together a total capacity of about 11 mln tonnes of steel per year.
The new company will not include Acesita -- in which Arcelor holds 28 pct -- as there has been no deal with the group's other shareholders. Arcelor, however, has not ruled out a deal to bring it under the Arcelor Brazil banner at a later date.
Arcelor also said the merger of the Brazilian operations will save some 165 mln eur per year from 2006.
lt/js/jad/bam
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
