The National Company of Siderurgica (CSN), Brazil's largest industrial conglomerate, has announced the acquisition of Spanish steel producer Galvacolor from CL Grupo Industrial (Christian Ley). The deal marks CSN's renewed interest in the Spanish market, subject to approval by Spain's National Commission for Markets and Competition (CNMC), which was officially notified on October 21.
Galvacolor, located in Jerez de los Caballeros (Badajoz), specializes in the production of flat steel coils, offering a range of four main types of products: etched and oiled, cold-rolled, galvanized and pre-painted steel. The company was acquired by CL Grupo Industrial in 2020 and resumed operations with an initial investment of 20 million euros after several years of inactivity.
While Galvacolor reported revenue of 95 million euros in 2024, down 16.65% from the same period last year, the company also reported operating losses of 7.4 million euros and negative net worth of 21.57 million euros. However, a 31 million euro equity loan from Grupo Gallardo Balboa helped to stabilize its balance sheet.
.This divestment is in line with CL Grupo Industrial's strategic plan for 2025-2027, which calls for attracting investments of 200 million euros and focusing on sustainable growth. The company's steel division remains one of the largest sources of revenue, along with the packaging division, and is undergoing significant transformation driven by innovation and sustainable development.
For CSN, the acquisition of Galvacolor means a return to Iberia's industrial landscape. Ten years ago, CSN showed interest in Grupo Gallardo's assets, including Cementos Balboa in Extremadura and Corrugados Azpeitia and Corrugados Lasao in the Basque Country.
CSN is a vertically integrated giant operating in the steel, mining, logistics, cement and energy industries, with annual revenue of over 7 billion euros, EBITDA of 533 million euros, and the number of employees exceeds 20,000. The company is headquartered in Brazil, it also operates in Germany and Portugal, and its shares are traded on the stock exchanges of Sao Paulo (B3) and New York (NYSE).
Source: eleconomista.es
