ArcelorMittal Acquires Nippon Steel's Stake in AM/NS Calvert Amid US Steel Acquisition

Date: 11 October 2024, 08:30 CET

ArcelorMittal, a global leader in steel manufacturing, has announced a definitive agreement to acquire Nippon Steel Corporation's (NSC) 50% stake in the AM/NS Calvert Joint Venture. This strategic move comes as NSC seeks to address regulatory concerns related to its acquisition of US Steel. The completion of this transaction is contingent upon NSC finalizing its purchase of US Steel, which is still subject to various regulatory approvals.

Under the agreement terms, ArcelorMittal will pay a nominal fee of $1 for the transaction. Additionally, NSC will provide approximately $0.9 billion through cash injections and loan forgiveness to facilitate the deal.

AM/NS Calvert: A Pioneering Steel Facility

The AM/NS Calvert facility, established through a joint venture between ArcelorMittal and NSC in 2014, is renowned as North America's premier finishing facility. It offers state-of-the-art capabilities, including:

• An advanced hot strip mill designed for rolling high-strength steels, line pipes, and stainless products.
• A continuous pickling line and tandem cold mill optimized for automotive production.
• Coating lines capable of producing advanced automotive steel grades such as Gen3 AHSS and Press Hardened Steel.

The facility is also expanding its capabilities with a new 1.5 million tonnes per annum electric arc furnace, integrated with ArcelorMittal's HBI facility in Texas, aimed at providing low-carbon steel solutions to the automotive industry.

Future Developments

Further investments are under consideration, including a second electric arc furnace and a non-grain oriented electrical steels line, ensuring Calvert's ongoing contribution to the domestic manufacturing sector.

About ArcelorMittal

ArcelorMittal stands as a leading integrated steel and mining company with operations across 60 countries. It is the largest steel producer in Europe and a significant player in the Americas and Asia. In 2023, the company generated $68.3 billion in revenue and produced 58.1 million metric tonnes of crude steel.

ArcelorMittal is committed to producing innovative, energy-efficient, and low-carbon steel solutions that support global sustainability efforts.

For more information, visit ArcelorMittal's official website.

Contact Information

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Corporate Communications:

• Paul Weigh
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