Acesita
Encyclopedia
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
ian manufacturer of specialty steels. Headquartered in Belo Horizonte
Belo Horizonte
Belo Horizonte is the capital of and largest city in the state of Minas Gerais, located in the southeastern region of Brazil. It is the third largest metropolitan area in the country...
, Minas Gerais
Minas Gerais
Minas Gerais is one of the 26 states of Brazil, of which it is the second most populous, the third richest, and the fourth largest in area. Minas Gerais is the Brazilian state with the largest number of Presidents of Brazil, the current one, Dilma Rousseff, being one of them. The capital is the...
, the company is a supplier of stainless, silicon and special carbon steels. Acesita's steel market share in Brazil is estimated to be 90%, and it is the only stainless steel
Stainless steel
In metallurgy, stainless steel, also known as inox steel or inox from French "inoxydable", is defined as a steel alloy with a minimum of 10.5 or 11% chromium content by mass....
maker in Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
. The company's main plant, at Timóteo
Timóteo
Timóteo is a Brazilian city in the state of Minas Gerais, located by the Piracicaba River. The population as of 2006 was 81,219 inhabitants. the city belongs to the metropolitan area of the Steel Valley . It is the hometown of Acesita, a steel factory specialized in the production of stainless...
in Minas Gerais (ArcelorMittal Timóteo), has an installed production capacity is 900,000 tons of steel per year. The company also mines iron ore.
Acesita was founded in the 1940s, and got into the stainless steel business in the late 1970s. It was privatised
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
by the Brazilian government in 1992. The French steel maker Usinor
Usinor
Usinor was a French steel making group formed in 1948. The group was merged with Sacilor in 1986, becoming Usinor-Sacilor and was privatised in 1995, and renamed Usinor in 1997....
, now part of ArcelorMittal, took a controlling stake in Acesita 1998. In 2007, ArcelorMittal announced the rebranding
Rebranding
Rebranding is the creation of a new name, term, symbol, design, or a combination of them for an established brand with the intention of developing a differentiated position in the mind of stakeholders and competitors....
of Acesita to ArcelorMittal Inox Brasil. The company's stock is traded on Bovespa
Bovespa
The BM&FBOVESPA is a stock exchange located at São Paulo, Brazil. As of December 31, 2010 it had a market capitalization of US $1.54 Trillion, making it one of the largest in the world. On May 8, 2008, the São Paulo Stock Exchange and the Brazilian Mercantile and Futures Exchange merged,...
, where it is part of the Ibovespa
Índice Bovespa
The Bovespa Index is an index of about 50 stocks that are traded on the São Paulo Stock, Mercantile & Futures Exchange ....
index. However, ArcelorMittal announced it would buy out all public stock of ArcelorMittal Inox Brasil, and make it a wholly owned subsidiary.