Brazilian steel-maker CSN was the only company with double-digit growth in the ranking.
With a 14 percent surge in revenue to $1.3 billion, Brazilian metal, mining, cement and energy firm CSN is the definite growth champion in Latin Trade’s most recent Multilatina Index.
The revenues of the top 25 multilatinas reached a total of of $100.02 billion in the second-quarter this year, down from the $105.9 billion in the same period a year before, according to Latin Trade’s most recent Multilatina Index.
But CSN was the only company that posted double-digit growth in the whole index.
The company saw a boost to its shares in late September after media reported a possible deal between CSN and China’s CBSteel. According to the report, CBSteel is interested in buying 25 percent of Congonhas Minérios, a subsidiary of CSN.
Oprimism about CSN also grew on hopes that Chief Executive Officer Benajmin Steinbruch will move forward with asset sales to cut debt.
At the other end of the index however, there are companies with double-digit drops, the steepest being a 42 percent plunge for Argentina’s Tenaris.
To see the full index, click below:
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