Arcelor Brasil to buy Costa Rica steel reroller

Dec 22, 2005 | 10:12 AM | Diana Kinch

Arcelor Brasil, the newly formed holding company for steelmaker Arcelor SA's Brazilian and Argentine interests, is making its first acquisition outside Latin America's Southern Cone.

The company has agreed to buy an 50-percent stake in Laminadora Costarricense SA, a new 400,000-tonne-a-year bar and rod reroller in Costa Rica, along with associated wire drawing concern Trefileria Colima SA.

Terms of the deal were not disclosed.

Carlo Panunzi, Arcelor Brasil's executive vice president, said the sales accord with Grupo Pujol-Marti SA should be completed by Jan. 31, 2006. Arcelor Brasil will have operational control and will have the option of later increasing its stake in the Costa Rican companies, he said.....

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