Business Services Industry
Brazil: CVRD and ThyssenKrupp form partnership.
South American Business Information, October, 2004
Brazil, Oct 14, 2004 (Jornal do Commercio/SABI via COMTEX)
The German industrial group ThyssenKrupp will construct a steel plant in partnership with the Brazilian mining company CVRD (Companhia Vale do Rio Doce). The group, to become a minority shareholder in the enterprise, will invest US$2.46bil resources. The plant will have a capacity of 5mil m tons per year directed at exports to the Nafta. Market sources believe that the unit will be based in Sepetiba (Rio de Janeiro state). Meanwhile Vale is preparing to increase through copper and aluminum operations, intending to knock down Alcoa and Anglo America and rank 3rd following BHP Billiton and Rio Tinto. With the expansion of those operations, the stake of iron ore activities in turnover would fall to 55% by...
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