Billion-Dollar Sale of Steel Company to ArcelorMittal Approved by CADE

Written by Roberta Souza

Published on 13/01/2023 at 08:09

Updated on 15/01/2023 at 16:49

Foto: Reprodução cspecem

Be the first to react!

The Sale of the Pecém Steel Company Was Evaluated at US$ 2.2 Billion and Was Announced on Wednesday, 11

CADE (Administrative Council for Economic Defense), through its General Superintendence, approved the sale of the Pecém Steel Company to ArcelorMittal, for approximately US$ 2.2 billion. The announcement was made on Wednesday, 11.

The released document states that the components related to imports and the Brazilian steel plate market mitigate the possibility of a bad deal on ArcelorMittal’s part.

Furthermore, CADE points out that, although there are steel companies such as CSN and Gerdau, in addition to other companies in the steel sector, steel plates are products that have characteristics that do not prevent their replacement by others from different suppliers than ArcelorMittal.

ARTICLE CONTINUES BELOW

Start of Operations

According to ArcelorMittal, in line with legislation, it will now begin a set period of 15 days, during which a “withdrawal” from the sale of the steel company may occur. Until the end of this period, both steel companies will continue their independent production.

If ArcelorMittal withdraws from the purchase of the steel company within the 15-day period, the operation will continue until completion and will be finalized upon signing the documents. If there is any proposed review, the companies will continue to operate independently until the final decision by the authority.

ABOUT ARCELORMITTAL

ArcelorMittal is a global steel giant, with customers in 160 countries and over 190,000 employees.

It is listed on the stock exchanges of New York, Amsterdam, Paris, Luxembourg, Barcelona, Bilbao, Madrid, and Valencia.

In Brazil, it operates in the production of steel and has an installed capacity of 12.5 million tons per year, with industries in six states and 16,000 employees.

Billion-Dollar Sale of Steel Company to ArcelorMittal Approved by CADE

The Sale of the Pecém Steel Company Was Evaluated at US$ 2.2 Billion and Was Announced on Wednesday, 11

Start of Operations

ABOUT ARCELORMITTAL

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

The race of humanoid robots in factories has truly begun, Hyundai announced that it will deploy more than 25,000 units of Atlas in its production lines starting in 2028, in a partnership that involves Boston Dynamics and training with Google DeepMind.

After nearly three decades and more than 1 million cars produced, Toyota will close the historic Indaiatuba plant on June 30 and concentrate Corolla production in Sorocaba, as part of an R$ 11 billion plan that heavily invests in flex hybrids and even an unprecedented pickup.

The number of Brazilian meatpacking plants with suspended meat sales to China rises to five, after the Chinese blocked the JBS unit in Vilhena due to the presence of hormones in the shipments, adding extra pressure on the sector on the eve of the 2026 export quota being exhausted.

How much does it cost to live with dignity in Brazil? A study found that in all 79 regions analyzed, the necessary salary was above the minimum of R$ 1,621. In São Paulo, a family of four needs R$ 6,155 per month.

Billion-Dollar Sale of Steel Company to ArcelorMittal Approved by CADE

The Sale of the Pecém Steel Company Was Evaluated at US$ 2.2 Billion and Was Announced on Wednesday, 11

Start of Operations

ABOUT ARCELORMITTAL

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Thousands of recycled glass bottles are transformed into foam insulating blocks, replace heavy gravel in construction, protect foundations, and reduce construction costs.

While common residences rely on expensive and polluting synthetic materials, a house in Denmark uses seaweed pillows as facade, roof, and insulation, bringing energy savings and preservation of tradition.

The major construction of the new corn ethanol industry in Brazil is advancing quickly, reaching 45% of the schedule, entering the mechanical assembly phase, and mobilizing more than 70 companies with up to 2,000 temporary jobs expected.

Goodbye to slow underground works: small robots create the tunnel structure before excavation, eliminate human risks, and speed up projects tenfold.

While the labor shortage delays traditional constructions, automation with wooden panels allows for the construction of 100 houses per week, saves weeks of work, and changes the concept of industrial housing.

The race of humanoid robots in factories has truly begun, Hyundai announced that it will deploy more than 25,000 units of Atlas in its production lines starting in 2028, in a partnership that involves Boston Dynamics and training with Google DeepMind.

After nearly three decades and more than 1 million cars produced, Toyota will close the historic Indaiatuba plant on June 30 and concentrate Corolla production in Sorocaba, as part of an R$ 11 billion plan that heavily invests in flex hybrids and even an unprecedented pickup.

The number of Brazilian meatpacking plants with suspended meat sales to China rises to five, after the Chinese blocked the JBS unit in Vilhena due to the presence of hormones in the shipments, adding extra pressure on the sector on the eve of the 2026 export quota being exhausted.

How much does it cost to live with dignity in Brazil? A study found that in all 79 regions analyzed, the necessary salary was above the minimum of R$ 1,621. In São Paulo, a family of four needs R$ 6,155 per month.