US – The acquisition was announced by the company in a 50:50 partnership with Nippon Steel & Sumitomo Metal Corporation (NSSMC) following regulatory approval. The agreed price was $1.6bn plus working capital and net debt adjustment.
The steel processing plant in Calvert, Alabama, has a capacity of 5.3m tons and incorporates hot rolling, cold rolling, coating and finishing lines.
Lakshmi Mittal, chairman and CEO of ArcelorMittal, described the acquisition as “an important milestone” for his company. “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,” he stated.