28 July 2022, 07:00 CET
ArcelorMittal (the ‘Company’) today announces it has signed an agreement with the shareholders of Companhia Siderúrgica do Pecém (‘CSP’) to acquire CSP for an enterprise value of approximately
CSP is a world-class operation, producing high-quality slab at a globally competitive cost. CSP’s state-of-the-art steel facility in the
The acquisition brings several strategic benefits to ArcelorMittal, including the potential to:
- Expand the Company’s position in the high-growth Brazilian steel industry.
- Capitalise on the significant planned third-party investment to form a clean electricity and green hydrogen hub in Pecém.
- Add 3 million tonnes of high-quality and cost-competitive slab capacity, with the potential to supply slab intra-group or to sell into
North and South America . - Allow for further expansions by the Company, such as the option to add primary steelmaking capacity (including direct reduced iron) and rolling and finishing capacity.
- Capture over
$50 million of identified synergies, including SG&A, procurement and process optimisation.
The
Commenting, ArcelorMittal CEO
“In CSP, we are acquiring a modern, efficient, established and profitable business which further enhances our position in
“CSP produces high-quality slabs and is cost competitive, ensuring its products are competitive domestically and for export. In the short-term we will continue to supply CSP’s existing customer base in
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2021, ArcelorMittal had revenues of
Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges of
For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/
Contact information ArcelorMittal Investor Relations | |
General | +44 20 7543 1128 |
Retail | +44 20 3214 2893 |
SRI | +44 20 3214 2801 |
Bonds/Credit | +33 171 921 026 investor.relations@arcelormittal.com |
Contact information | |
Paul Weigh Tel: E-mail: | +44 20 3214 2419 press@arcelormittal.com |
Source:
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