APR auction
15 April 2008
Votorantim has acquired 52% of Acerias Paz del Rio (APR), for US$ 489 million. The stake in Colombia's second largest steel maker was sold by the Government through a public auction. Votorantim beat of bids from rival Brazilian steel makers Gerdau and CSN as well as world no. 1 in the industry, Arcelor Mittal.
Last year APR had sales of COP 473 billion (US$ 215 million). It has a single steel mill in Belencito, and the company says its annual production of 0.41 million tonnes represents a 14% share of the domestic steel market. APR also owns iron ore and coke deposits.
Latest News
Battery-powered machines are seeing more adoption from equipment rental companies, but many in the sector still need to be convinced
Agreement ends six year dispute
Energy technology company Holtec has won £30 million in grant funding from the UK government to take its small modular nuclear reactor concept through the first steps to assessing its suitability for construction.
