"With the sale of CSA, thyssenkrupp has now fully divested Steel Americas and achieved a further important milestone on its Strategic Way Forward. thyssenkrupp now generates more than 75% of its sales with profitable capital goods and services businesses," thyssenkrupp said in a statement.  

The company sold the mill to Latin American steelmaker Ternium for EUR1.5 billion (approximately US$1.8 billion). The proceeds are being used to pay down debt. 

With the mill, which has been renamed Ternium Brasil Ltda., Ternium gains 5 million tons of slab capacity and an existing agreement to supply 2 million tons worth of slabs to the ArcelorMittal-Nippon Steel & Sumitomo Metal Corp. re-rolling facility in Calvert City, Ala., USA. 

"This acquisition brings another state-of-the-art facility into Ternium’s industrial system, along with CSA’s highly skilled personnel and know-how, thereby enhancing our differentiation and value-added capabilities in the steel production supply chain," said Ternium chief executive Daniel Novegil.  

"Upon integration, Ternium customers will not only benefit from our expanded high-end steel slabs capacity, but also see the results of an enhanced product development and supply chain management effort that will increase our high-end steel specialization in Mexico and Argentina. We move forward as a strengthened organization across our strategic industrial sectors in Latin America."

Along with the closing of the sale, Marcelo Chara, industrial director of Ternium’s operations in Argentina, has been named chief executive of Ternium Brasil.