Thyssen gets interest for Brazil, US plants report

Reuters/Mining Weekly, 06/04/2012

FRANKFURT – ThyssenKrupp has attracted interest from Brazil’s Vale and South Korea’s Posco for its struggling steel plants in Brazil and the US, German weekly WirtschaftsWoche reported.

Citing company sources, the magazine said Vale, which already owns 27% of the Brazilian plant CSA, would be interested in buying the rest of the joint venture, which has saddled Germany’s biggest steelmaker with heavy losses.

A Vale representative said on Saturday the company did not want to buy a controlling stake in any steel mill. But she did not rule out the company increasing its stake in CSA, so long as it did not become the majority stakeholder.

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