Steel Mills
February 27, 2014
ThyssenKrupp USA Sale Finalized
Written by Sandy Williams
The sale of ThyssenKrupp USA to 50/50 joint venture partners ArcelorMittal and Nippon Steel & Sumitomo Metal Corporation is finally complete. The $1.5 billion acquisition of the Calvert, Ala., hot rolled, cold rolled and coating and finishing mill has met all regulatory approvals allowing ThyssenKrupp a sigh of relief and AM & NSSMC the opportunity to expand their presence in the southeastern US and in the NAFTA auto market.
“The successful completion of this transaction is an important milestone for ArcelorMittal,” said Lakshmi Mittal, chairman and CEO of ArcelorMittal. “Along with NSSMC we are now the owners of the most modern steel finishing facility in the world, which will allow us to meet rising demand for steels in the automotive, energy and other important NAFTA markets.”
