Complete acquisition of ThyssenKrupp Steel USA completed

ArcelorMittal, in partnership with Nippon Steel & Sumitomo Metal Corporation, announced that it has completed the acquisition of ThyssenKrupp Steel USA, one of the world's largest steel producers, based in Calvert, Alabama.

ArcelorMittal & NSSMC obtained all required regulatory approvals for the 50/50 joint venture deal. The transaction took place at the agreed price of US $ 1,550 million plus working capital and net debt adjustment. The Calvert plant in the USA has a total production capacity of 5.3 million tonnes, including hot and cold rolling, coating and finishing lines.

LN Mittal, Chairman and CEO of ArcelorMittal, said: “The successful completion of this transaction is an important milestone for ArcelorMittal. Together with NSSMC, we now own the facility with the most advanced equipment and the most advanced steel finishing methods in the world. This will enable us to meet the growing demand for steel in the automotive, energy and other important industries. "