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Vale Concludes Deal to Increase Stake in CSA
09/30/2009 - Vale concludes its agreement to increase its stake in ThyssenKrupp CSA Siderúrgica do Atlântico to 26.87% through a capital infusion of EUR$ 965 million.
Vale SA, Brazil, has concluded its previously announced agreement with ThyssenKrupp Steel AG to increase its stake in ThyssenKrupp CSA Siderúrgica do Atlântico Ltda. (CSA).
CSA is building an integrated steel slab plant in the state of Rio de Janeiro, Brazil. The new greenfield plant, which is currently expected to start up in the first half of 2010, will have a nominal capacity of five million tonnes of slab per year. The new slab plant is reported to be the largest industrial investment under construction in Brazil in the last ten years, and the first large steel mill to be built in the country since the mid-eighties.
Vale is providing a capital infusion of EUR$ 965 million to increase its interest in the CSA venture to 26.87% from its current stake of 10%.
As a strategic partner of ThyssenKrupp, Vale also is the sole and exclusive supplier of iron ore to CSA.
