Tag: Brazil

Engineering and technology group SENER has opened an office in São Paulo, Brazil. The company establishes an operating and permanent division in the country made up of about 300 Brazilian professionals specialized in engineering and construction that will carry out projects in the fields of power and process, civil engineering and architecture, aerospace and marine engineering.

Germany’s biggest power supplier E.ON will increase its stake in Brazilian electricity producer MPX to just over 36%.

The Brazilian government has stated that the country will need to increase its installed capacity by 110GW in the next 15 years to meet the country's rising energy demands.

Brazilian mining giant Vale plans to reduce its 50% stake in the Companhia Siderúrgica do Pecém (CSP) steel plant project, currently being built in northeastern Ceará state, CFO Luciano Siani said during a meeting of institutional investors in Rio de Janeiro.

ArcelorMittal and Japanese steelmaker Nippon Steel & Sumitomo Metal Corp. are planning a joint bid to buy ThyssenKrupp AG's Steel Americas unit to ramp up automotive steel sheet production.

Earlier this month, Luxembourg-based ArcelorMittal reportedly submitted a USD 1.

In a bid to explore potential iron ore assets for acquisition by state-run companies, India will be sending a high-level delegation to Brazil for the second time in three months.

The delegation is headed by Beni Prasad Verma (Steel Minister) and includes DRS Chaudhary (Steel Secretary), CS Verma (Chairman of National Mineral Development Corporation or NMDC) and NK Nanda (Technical Director of NDMC) to name a few.

During the first three quarters of 2012, Brazil stood up as the main Latin American destination for Chinese finished steel exports. Meanwhile, Mexico continued to be the country that showed the most important relative growth of Chines imports, compared to same period of 2011.

A domestic steel price hike by Brazilian steelmakers is being considered possible, but implementation should be difficult and sustainability is questionable, according to a new report by UK bank HSBC analyst Jonathan Brandt.

Brazilian mining giant Vale's global steel director Aristides Corbellini has resigned from his duties as part of a downsizing process in the miner's steel production division.

With Corbellini's resignation, the global steel director's position will no longer exist.

Brazilian steelmaker CSN has offered USD 3.8B to acquire ThyssenKrupp's Steel Americas division plants in Brazil and in the US.