Usiminas Automotive sells for $ 210 million to Aethra

Usiminas hit deal to sell his production company Usiminas Automotive trucks booths for Aethera mining Systems for $ 210 million, ending months of speculation about a drive that went on to be regarded as non-essential by the company.
Second notice to the market, the value of sale can still be adjusted until the closing date of the operation, which depends on approval of the Administrative Council for economic Defense (Cade).
' The divestment of Automotive is aligned with the company's strategy to prioritize, in its portfolio, business associates directly to its main activities, seeking to maximize your competitive positioning ', said the world's largest producer of flat steel from Brazil in a statement.
Since assuming the management of the company in January last year, the Chief Executive Officer Julián Eguren has worked to enlarge the competitiveness of Usiminas amid the crisis of the world steel industry.
The vineyard Automotive for months being cited by directors of Usiminas target.
Among the major Automotive customers Usiminas is Ford, which uses the cabins produced by the company in their trucks.
Aethra full Assembly included truck cabins in its portfolio in 2003.
The Brazilian truck market through recovery period after the tumble suffered in 2012. In may, sales of trucks rose by 16%, while the production has soared almost 46% over the same period.
The closed the first quarter with Automotive revenue of r $ 78 million, an increase of 35% over a year earlier and equal to one-seventh of the total revenues of $ 546 million from the transformation of Usiminas, which includes steel distribution business.