UK markets open in 57 minutes
  • NIKKEI 225

    27,819.33
    -180.63 (-0.65%)
     
  • HANG SENG

    20,004.04
    +393.20 (+2.01%)
     
  • CRUDE OIL

    91.87
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    1,801.80
    -11.90 (-0.66%)
     
  • DOW

    33,309.51
    +535.11 (+1.63%)
     
  • BTC-GBP

    20,153.42
    +1,266.68 (+6.71%)
     
  • CMC Crypto 200

    578.49
    +47.27 (+8.90%)
     
  • ^IXIC

    12,854.80
    +360.88 (+2.89%)
     
  • ^FTAS

    4,150.68
    +21.29 (+0.52%)
     

ArcelorMittal completes acquisition of majority stake in voestalpine’s state-of-the-art HBI facility in Texas

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
ArcelorMittal S.A.
ArcelorMittal S.A.

1 July 2022, 08:00 CET

ArcelorMittal (‘the Company’) today announces that following receipt of customary regulatory approvals it yesterday completed the acquisition of an 80% shareholding in voestalpine’s Hot Briquetted Iron (‘HBI’) plant located near Corpus Christi, Texas.

The acquisition, announced in April this year, values the Corpus Christi operations at $1 billion. The state-of-the-art plant is one of the largest of its kind in the world. It has an annual capacity of two million tonnes of HBI, which is a premium, compacted form of Direct Reduced Iron (‘DRI’) developed to overcome issues associated with shipping and handling DRI.

The transaction enhances ArcelorMittal’s ability to produce the high-quality input materials required for low-carbon emissions steelmaking, and reinforces the Company’s position as a world leader in DRI production.

ArcelorMittal intends to lead the decarbonisation of the global steel industry. More details on the Company’s climate action ambitions, strategy, technologies and ongoing decarbonisation projects can be found here.

ENDS

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2021, ArcelorMittal had revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes, while iron ore production reached 50.9 million metric tonnes.

Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

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: http://corporate.arcelormittal.com/

 

 

Contact information ArcelorMittal Investor Relations

 

 

 

General

+44 20 7543 1128

Retail

+44 20 3214 2893

SRI

+44 20 3214 2801

Bonds/Credit
E-mail

+33 171 921 026
investor.relations@arcelormittal.com

 

 

 

 

Contact information ArcelorMittal Corporate Communications

 



Paul Weigh
Tel:
E-mail:



 

+44 20 3214 2419
press@arcelormittal.com

 

 


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting