Usiminas to restructure capital goods, engineering arm on persistent losses

Brazil's largest flat steel producer, Usiminas, is to restructure its capital goods and engineering subsidiary to serve its core business after five years of sustained losses and unsuccessful divestment attempts.

Usiminas Mecânica will now focus on providing services to the parent company and its other subsidiaries and move away from external projects, the company said - although existing contractual agreements will be honored.
The Usiminas board of directors approved the plan on Wednesday June 24.

“This restructuring...


Renato Rostás

June 25, 2020

17:45 GMT

São Paulo