Announced
Completed
Financials
Tags
Private
Majority
United States
Acquisition
Single Bidder
steel manufacturing
Disposal
Iron and Steel
Domestic
Friendly
Completed
Private Equity
Synopsis
ArcelorMittal USA, a steel producer, completed the acquisition of remaining stakes in I/N Kote and I/N Tek, steel-making joint ventures it formed with Nippon Steel, for $183m. l/N Tek and l/N Kote have been manufacturing bases for high grade automotive steel sheets for Japanese automotive customers in the United States. After the transfer, NSC intends to concentrate its resources on AM/NS Calvert, which has one of the most distinguished equipment capabilities in the United States, and to further strengthen its supply capability of full range of products including the state of the art steel products in the North America.
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