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Usiminas Mecânica to Provide Services to Usiminas Mills Only

Steel News - Published on Fri, 26 Jun 2020

Image Source: Usiminas
Brazil's largest flat steel producer, Usiminas is to restructure its capital goods and engineering subsidiary to serve its core business after five years of sustained losses and unsuccessful divestment attempts. Usiminas Mecânica will now focus on providing services to the parent company and its other subsidiaries and move away from external projects. The flats producer said UMSA has seen declining generation of cash flow over the past five years, and it isn't a core business of Usiminas. The Usiminas board of directors approved the plan on Wednesday June 24.

Existing contractual agreements will be honored.

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Posted By : Yogender Pancholi on Fri, 26 Jun 2020
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