Bloomberg reported that Brazil’s third largest steelmaker Cia Siderurgica Nacional SA has concluded in a satisfactory manner an accord to purchase a pair of German steel units from Spain’s Grupo Alfonso Gallardo for EUR 482.5 million.

CSN has bought units Stahlwerk Thüringen GmbH or SWT and Gallardo Sections SLU, without assuming any debt.

SWT, a long steel manufacturer based in Unterwellenborn, Germany, has the capacity to produce 1.1 million tonnes per year.

CSN said “The conclusion of this acquisition will contribute to strengthen CSN’s position in the long steel segment.”

(Sourced from Bloomberg)