ArcelorMittal reaches agreement with Liberty House for the sale of finishing lines in Dudelange and Liège
November 02 2018 - 2:50AM
ArcelorMittal reaches agreement with Liberty House for the sale of
finishing lines in Dudelange and Liège
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).
ENDS
About ArcelorMittal
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/
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ArcelorMittal Corporate Communications |
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Paul Weigh |
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Richard Farnsworth |
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