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    Market Segment

    March 23, 2013

    CSN Bid for ThyssenKrupp Assets Not Yet Complete

    Written by John Packard

    According to SMU sources combined with an article written by Jose Manuel Saavedra & Ivo Ribeiro we have discovered that CSN has not yet made a firm proposal on the assets of ThyssenKrupp Steel Americas steel mills. The Brazilian article reported that CSN is requesting an extension of time in order to conclude their negotiations with the BNDES bank.

    There are a number of issues which are clouding the bidding process – especially for the CSA slab mill located in Santa Cruz, Rio, Brazil. The CSA plant is operating under provisional license which allows the plant to operate up to 75 percent of capacity. The plant would need an environmental permit in order to operate at full capacity. The Brazilian article quoted the Secretary of Environment of Rio as saying the permits would not be granted for at least 4 months. The CSA plant has not completed the measures required in order to put an end to “Silver Rain” which is a cloud of dust particles of graphite.

    John Packard

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