ArcelorMittal USA completed the acquisition of remaining stakes in I/N Kote and I/N Tek from Nippon Steel for $183m.

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.