The
announcement of the acquisition added that Votorantim will have a minority holding in the global steelmaker’s Brazilian subsidiary, but the stakes that Votorantim has in Acerbrag of Argentina and Acerías Paz del Río in Colombia were not part of the deal.
“The Brazilian [steel] market has seen a deep decline, so we started looking for a strategic move that would allow us to become more competitive,” ArcelorMittal Long Carbon Central & South Americas ceo Jefferson de Paula told Metal Bulletin on Thursday.
De Paula’s estimates show that the country’s long steel market fell by 14% in 2016, with growth forecast to...
