CSP, one of the newest plants in the Brazilian steel industry, was acquired by the world's second-largest steel producer ArcelorMittal, and the acquisition was completed last week.

CSP has a steel slab production capacity of 3 million tons per year, and it will be able to export its steel to Europe since Europe is interested in having CSP as a supplier for part of the demand, according to the executive president of ArcelorMittal's Brazilian unit, Jorge Oliveira. CSP currently exports its steel to the United States and Mexico.

With the acquisition of CSP, ArcelorMittal has increased its flat steel production capacity in Brazil to 10.5 million tons per year, adding the capacity of long steel products it reached to 15.5 million tons.