Brazil: CSN considering merger with cement unit

Brazilian steelmaker CSN is considering a merger with its subsidiary CSN Cimentos, Business News Americas reported.

CSN, in a regulatory filing, said it would present the proposal to shareholders for approval.

The merger would help CSN achieve synergies and economies of scale.

It would result in "process optimisation and maximised results," with all business and administrative activities carried out via a "single organizational structure," CSN said.

The net worth of CSN Cimentos is BRL1bn (US$325m), an amount determined by local consultancy Apsis, CSN said. The merger would cost BRL1.7m and be effective as of 1 May.