Ternium Brasil pulls out of Açu steelworks venture

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  • LLX CEO plays down impact of Ternium decision

Ternium Brasil has pulled the plug on its planned steelworks’ venture at the new Açu Superport currently under construction in São João da Barra, Rio de Janeiro.

However the CEO of LLX Logistica, the company behind the development, has been quick to state that Ternium’s decision not to develop a pelletising plant or steelworks will have little if any impact on the project.

“Due to the slowdown in the steel sector in recent years, the business model of LLX is being revised,” said LLX’s Marcus Berto

“Ternium’s decision not to develop a steel works at Açu Superport therefore bears no influence on the venture's implementation,” asserted Berto.

Ternium also informed LLX that all of its shares in the project, known as Siderúrgica Norte Fluminense (SNF), will be transferred backed the company.
Berto added that the company is now seeking new business opportunities to use the area reserved for Ternium, around 13 km².

Açu Superport is scheduled to open for commercial business later this year.
 

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