Yahoo Finance ArcelorMittal completes acquisition of ThyssenKrupp Steel USA
Luxembourg, 26 February 2014
ArcelorMittal, together with Nippon Steel & Sumitomo Metal Corporation ("NSSMC"), today announces that it has completed the acquisition of ThyssenKrupp Steel USA ("TK Steel USA"), a steel processing plant in Calvert, Alabama, having received all necessary regulatory approvals.
The transaction - a 50/50 joint venture with NSSMC - was completed for an agreed price of US$1,550 million plus working capital and net debt adjustment.
The Calvert plant has a total capacity of 5.3 million tons including hot rolling, cold rolling, coating and finishing lines.
Commenting, Mr Lakshmi N. Mittal, chairman and CEO of ArcelorMittal, said: "The successful completion of this transaction is an important milestone for ArcelorMittal. Along with NSSMC we are now the owners of the most modern steel finishing facility in the world, which will allow us to meet rising demand for steels in the automotive, energy and other important NAFTA markets."
About ArcelorMittal
ArcelorMittal is the world`s leading steel and mining company, with a presence in more than 60 countries and an industrial footprint in over 20 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are actively researching and producing steel-based technologies and solutions that make many of the products and components we use in our everyday lives more energy-efficient.
We are one of the world`s five largest producers of iron ore and metallurgical coal and our mining business is an essential part of our growth strategy. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.
In 2013, ArcelorMittal had revenues of $79.4 billion and crude steel production of 91.2 million tonnes, while own iron ore production reached 58.4 million tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit: www.arcelormittal.com.
Contact information ArcelorMittal Investor Relations | |
Europe | + 352 4792 3198 |
Americas | +1 312 899 3985 |
Retail | + 352 4792 3198 |
SRI | + 44 207 543 1123 |
Bonds/Credit | + 33 171 92 10 26 |
Contact information ArcelorMittal Corporate Communications | |
E-mail: | |
Phone: | +44 20 7629 7988 |
ArcelorMittal Corporate Communications | |
Sophie Evans (head of media relations) | +44 20 3214 2882 |
Laura Nutt | +44 20 7543 1125 |
United Kingdom | |
Maitland Consultancy: | |
Martin Leeburn | + 44 20 7379 5151 |
France | |
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Sylvie Dumaine / Anne-Charlotte Creach | + 33 1 5370 7470 |
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ArcelorMittal S.A. via GlobeNewswire
HUG#1764879
