June 21, 2012 / 3:50 PM / 5 years ago

Posco studies stake in Thyssen's CSA mill: CEO

SAO PAULO (Reuters) - Posco (005490.KS) is studying a possible purchase of a stake in ThyssenKrupp AG’s (TKAG.DE) CSA steel slab mill in Rio de Janeiro, the South Korean steelmaker’s Chief Executive Chung Joon-yang said on Thursday.

“We just received information on CSA, operated by Thyssen in Brazil, and we are reviewing it internally,” Chung said in Sao Paulo. “I‘m not in a position to say yes or no (about a stake acquisition) but we are definitely analyzing it at the moment.”

News reports surfaced over the past weeks that Posco and Brazilian miner Vale (VALE5.SA), which holds a 27 percent stake in CSA, were considering buying out Thyssen’s stake in the mill.

Vale has said it is not interested in taking a controlling stake in steel mills but did not rule out potentially increasing its holding in CSA.

Chung said Posco has not been in talks with Vale (VALE5.SA) over a possible participation in CSA. He also said Posco was studying a possible stake in Thyssen’s Alabama steel plant.

Reporting by Gustavo Bonato; Writing by Reese Ewing; Editing by Gerald E. McCormick and Dale Hudson

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below