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Vale Analyzes Possibility of Increasing its Stake in CSA Steel Project
07/06/2009 - Under invitation from Thyssenkrupp, Vale is discussing the possibility of buying an additional stake in Thyssenkrupp CSA Siderúrgica do Atlântico in Brazil.
Vale SA reports that it is discussing, by invitation from ThyssenKrupp AG, the possibility of buying an additional stake in Thyssenkrupp CSA Siderúrgica do Atlântico Ltda. (CSA).
CSA, in which Vale already holds a 10% share, is building an integrated steel slab plant in the state of Rio de Janeiro, Brazil. Scheduled to start up in December 2009, the mill is to employ 3500 people and produce five million tonnes of steel per year.
Vale commented the discussion had been initiated in light of the need to make feasible the conclusion of the project and the start-up of CSA operations without further delay, as well as the full utilization of its assets according to market opportunities.
Vale (formerly Companhia Vale do Rio Doce, or CVRD) is a global company with a mission to transform mineral resources into prosperity and sustainable development. Headquartered in Brazil, Vale has a workforce of over 100,000 employees, including outsourced workers.
