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CSN Confirmed on Wednesday That It Is Negotiating the Acquisition of Elizabeth Cimento, a Cement Factory in the State of Paraíba
The President of CSN, Benjamin Steinbruch, confirmed on Wednesday that he is negotiating the purchase of Elizabeth Cimento, owned by the Farallon fund, a cement factory in the state of Paraíba. The deal may vary from US$ 200 million to 250 million, according to information from the newspaper Valor Econômico. See also: One of the largest exporters of iron ore in Brazil, CSN Mineração is hiring technicians, mechanics, apprentices, and more, for job openings in MG, RJ, SP, and PR
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About the Purchase of the New Cement Factory by CSN
Steinbruch, CSN’s president, said that he will keep the market informed about any developments regarding this matter. CSN’s management also stated that there is currently no binding document for the acquisition.
According to market experts, the acquisition is considered strategic for CSN’s cement division, which plans to go public on B3, the São Paulo stock exchange. The company has already registered its initial public offering (IPO) with the CVM, the capital markets authority.
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About CSN Cimentos: Currently, CSN produces bagged cements: CP II-E-32, CP II-F-32, and CP III-40 RS and bulk: CP II-E-40 and CP III-40 RS, with a minimum strength of 32 MPa and 40 MPa, all according to the ABNT NBR 16697 standard. In addition, CSN’s CP III has high resistance to sulfates, meaning it is resistant to sewage, seawater, and certain types of soils with aggressive compounds.
See Also: CSN Mineração Signs Contract with Eight Banks for Investment in the Largest Steel Complex in Minas Gerais, and Job Recovery Is Expected
The Brazilian producer of iron ore and flat steel, CSN Mineração, secured financing for investment in its Casa de Pedra mine in Congonhas, Minas Gerais, and the generation of new jobs in the region.
Currently, CSN has the capacity to produce 33 million tons per year of iron ore, with the vast majority coming from the Casa de Pedra mine in Minas Gerais. It plans to expand to 108 million tons per year by 2033. New jobs are expected to be created.
Through its mining division CSN Mineração, CSN closed a 12-year agreement for investments that promise to create a significant boom in the mining industry in Minas Gerais.
Job Creation in the State of Minas Gerais
With the loan from CSN Mineração, the company promises to invest in improvements in the mining industry and, mainly, in the expansion of operations at the Casa de Pedra mine, in the hope that new jobs will be created.
The company also announced new investments for changes in its tailings filtration, in order to ensure the quality of iron ore supply for its Japanese customers.
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