German steel giant ThyssenKrupp has announced its decision to examine strategic options in all directions for its Steel Americas plants in Brazil and the USA. This may involve a partnership or sale to an owner whose strategy can better utilize the outstanding quality and fundamental competitiveness of the plants.
Goldman Sachs and Morgan Stanley have been appointed to support the examination of the strategic options.
In May, ThyssenKrupp said it was evaluating a number of options for its Americas operations -a slab mill in Brazil and a flat rolled steel production operation in Calvert, Alabama -including a partnership or sale of the plants.
While Brazilian steelmakers Usiminas and Gerdau and South Korea-based POSCO stated that they are not interested in ThyssenKrupp's 73.1 percent shares in Brazilian slab joint venture Companhia Siderúrgica do Atlântico (CSA), Brazil-based iron ore mining company and flat rolled steel producer Companhia Siderurgica Nacional (CSN) might consider bidding for the slab JV, as news reports stated last week.