ArcelorMittal Considers $200 Million Investment In Brazil's Auto Industry
"ArcelorMittal may invest $200 million to produce steel for Brazil’s auto industry, Valor Economico reported, citing the head of the company’s flat-rolled products unit in South America," according to Bloomberg.
The report said, "The new line would have the capacity to produce 500,000 metric tons of galvanized steel a year at ArcelorMittal’s plant in the Brazilian state of Santa Catarina, Valor said, citing unit Chief Executive Officer Benjamin Baptista Filho.
ArcelorMittal will likely make a decision by the end of March, and the line would start operating in the first half of 2014, the Sao Paulo-based newspaper said."
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