Steel Mills
ArcelorMittal Divests Four Assets for Ilva Deal in Europe
Written by Sandy Williams
October 14, 2018
ArcelorMittal announced a binding offer from Liberty House Group for the purchase of ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia) and ArcelorMittal Piombino (Italy).
The transaction is part of a divestment package agreed to by ArcelorMittal with the European Commission for the €1.8 billion acquisition of Italian steel mill Ilva.
The ArcelorMittal assets will increase rolling capacity at Liberty House, led by Sanjeev Gupta, by 8 million metric tons for an annual production of 15 million tons. The four mills serve the automotive, construction, industrial machinery, and oil and gas sectors of Europe. The acquisition will add 12,500 people to Liberty’s workforce.
“At a stroke, these acquisitions would almost double the size of our workforce and global production capacity, giving us a strong presence in the heart of Europe’s key manufacturing regions,” said Gupta in a press release.
ArcelorMittal still has assets for sale at Dudelange, in Luxembourg and in Liege, Belgium.
Sandy Williams
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