CSN seeking M&A deal in cement in Latin America
Brazilian steelmaker Cia. Siderurgica Nacional SA (CSN), said Friday it’s seeking to purchase cement assets in Latin America as a way of strengthening its presence in this sector.
As well as boosting its cement operations in Brazil, CSN is seeking a mergers and acquisitions deal in Peru, Colombia, Chile, Paraguay and Uruguay, company executive director Paulo Penido told analysts on a conference call.
"We plan to expand cement as a core business, along with our other core businesses of steel and mining," Penido said.
The company is seeking to buy cement assets despite its failure to purchase Portuguese cement maker Cimpor early this year, Penido said.
In the first nine months of 2010 CSN sold 681,000t of cement, with a net revenue of BRL131m (US$77m), the company said in an earnings statement Thursday.
Published under Cement News
