2 November 2018 – ArcelorMittal (‘the Company’) today announces that it has received a binding offer from Liberty House Group for the acquisition of ArcelorMittal Dudelange (Luxembourg) and the following finishing lines at ArcelorMittal Liège (Belgium): hot dipped galvanising lines 4 and 5 in Flemalle; and hot-rolled pickling, cold rolling and tin packaging lines in Tilleur. The assets are the final part of a divestment package the Company agreed with the European Commission (‘EC’) during its merger control investigation into the Company’s acquisition of Ilva S.p.A (‘Ilva’).
Transaction closing is subject to the completion of the Company’s acquisition of Ilva, corporate approvals and is conditional on EC approval and the conclusion of consultations with local and European Works Councils.
The Company has now received binding offers for the complete divestment package in keeping with its commitments to the EC. Furthermore, by agreeing to binding offers from Liberty House for the full divestment package, the Company has met the EC’s preference of finding a single suitable buyer. The package of assets comprises ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia) and ArcelorMittal Piombino (Italy) (as announced on 12 October); ArcelorMittal Dudelange (Luxembourg) and the above-mentioned finishing lines at ArcelorMittal Liège (Belgium).
ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are actively researching and producing steel-based technologies and solutions that make many of the products and components people use in their everyday lives more energy efficient.
We are one of the world’s five largest producers of iron ore and metallurgical coal. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.
In 2017, ArcelorMittal had revenues of $68.7 billion and crude steel production of 93.1 million metric tonnes, while own iron ore production reached 57.4 million metric tonnes.
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/