Despite the crisis affecting the Brazilian steel segment, ThyssenKrupp has no immediate plans to leave the segment in the country, but after investing billions of euros in its CSA mill, the plant is now facing weak demand and price pressures.
During the Brazil Steel Congress, which was held this week in Sao Paulo, ThyssenKrupp’s CEO for Brazil, Walter de Castro Medeiros, admitted that teaming up with a partner in the long term could be a solution for the mill.
Henrich Hiesinger, ThyssenKrupp’s global CEO, said it will be “impossible” to sell the company in the short term, but added that for the long term such an alternative is “likely” to happen, meaning ThyssenKrupp could sell the whole company or have another partner. Vale is a partner at the CSA plan, where it has a 27 percent stake.