Steel Mills

ArcelorMittal to Sell LaPlace and Vinton Long Carbon Facilities

March 23, 2016

ArcelorMittal announced it will sell its LaPlace and Vinton Long Carbon steel facilities to an affiliate of Black Diamond Capital Management.

The LaPlace Louisiana mini-mill includes an electric arc furnace, ladle metallurgy station, two four-strand continuous billet casters, and a fifteen-stand Danieli medium section mill. The LaPlace facility, along with a rolling mill in Harriman, Tenn., produces billets, angles, flats, channels and beams. The mill has a steelmaking capacity of approximately 683,000 tons.

The Vinton facility, located in El Paso, Texas, produces rebar and grinding media. Its principal production facilities include an EAF, billet caster, rolling mill and bar mill and services with steelmaking capacity of approximately 320,000 tons.

Commenting, Jim Baske, executive vice president, CEO ArcelorMittal North America, said: “The sale of LaPlace and Vinton is consistent with ArcelorMittal’s stated strategy of selective divestment of non-core assets. I would like to thank the employees of LaPlace and Vinton for their commitment and efforts over the years, and wish them a successful future under new ownership.”

La Place has 348 hourly and 108 salaried employees; Vinton employs 402.

The transaction is expected to close in April 2016 and a service agreement has been entered into with Black Diamond to ensure a smooth transition and no disruption to production.