International Steel Mills
December 7, 2013
Vale May Sell Share of CSA
Written by Sandy Williams
Brazilian mining company, Vale SA, plans to sell its share of CSA owned by ThyssenKrupp according to a report published by the Wall Street Journal.
Jose Carlos Martins, head of Vale’s Ferrous division and Strategy told WSJ that Vale typically invests in Brazilian steel plants to increase domestic steel production and then sells its share once the plant is financially stable. The ThyssenKrupp Brazilian plant has cost Vale and TK more than $7 billion and has yet to turn a profit.
