Steel Mills
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ArcelorMittal a Step Closer to Closure on TK Alabama Mill
Written by Sandy Williams
January 30, 2014
ArcelorMittal received anti-trust clearance on Wednesday, clearing a hurdle to the acquisition of the ThyssenKrupp Alabama facility. The waiting period under the Hart-Scott-Rodino Antitrust Acquisition Improvements Act (HSR) terminated on Jan. 29 providing clearance for the acquisition.
Following receipt of other customary regulatory approvals, the joint purchase by ArcelorMittal and Nippon Steel & Sumitomo Metal Corp (NSSMC) is expected to close late in the first quarter or in the second quarter of 2014.
ArcelorMittal and NSSMC announced the purchase of the ThyssenKrupp Alabama plant for $1.55 billion last November. The deal included a six year agreement to purchase 2 million tonnes of slab from Thyssenkrupp’s Brazil plant CSA. The purchase is expected to expand ArcelorMittal’s presence in the NAFTA automotive and energy markets.
The Calvert, Ala., steel processing plant includes hot rolling, cold rolling, coating and finishing lines and has an annual capacity of 5.3 million tonnes (5.84 million tons) although a portion of the line is dedicated to rolling stainless slabs. Flat rolled capacity is approximately 4.2 million metric tons (4.6 million net tons).
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Sandy Williams
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AISI: US steel shipments unchanged in July vs. June, down on-year
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Media reports: Biden could block USS sale on national security concerns
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USS threatens to cut ‘thousands’ of jobs, move HQ if Nippon sale blocked
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CRU: SSAB to expand Mobile plate mill
SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]