Business Services Industry
Brazil : Belgo restructures Acindar.
South American Business Information, October, 2001
Brazil, Oct 15, 2001
Companhia Siderurgica Belgo Mineira is investing to conclude the restructuring program of Acindar Industria Argentina de Aceros in January 2002. The expectation is to negotiate its debts that reaches US$340mil, informed the CEO of Belgo Mr Antonio Jose Polanczyk. Belgo has acquired 21,6% of Acindar's voting capital from Acevedo family, in a US$131mil deal. Acindar has capacity for 1.2mil m tons of steel per year. Between January and August 2001 Belgo Mineira sold 1.7mil m tons of steel, 6% growth compared to same period of 2000. In 2000 the company sold 2.4mil m tons, and for 2001 the prospect is to improve sales performance by 5%. In Brazil Belgo group installed capacity reaches 3.2mil m tons of rolled mill products.
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