Regulatory News:
ArcelorMittal, the world’s largest integrated metals and mining company, announces that it intends to acquire 60% of the entire issued share capital of DSTC FZCO, a newly incorporated company located in the Dubai free zone.
Together with DSTC FZCO, ArcelorMittal is widening its offering in the Middle Eastern area. DSTC FZCO will acquire the main business of a steel distributor in the United Arab Emirates (UAE), Dubai Steel Trading Company LLC (“DSTC LLC”).
This new acquisition is the first step towards the creation of a fully-fledged distribution network in the Gulf Cooperation Council (GCC) area for the distribution of long and flat steel products (beams, plates, hollow sections).
“This is an important partnership that will spearhead our distribution network in the Middle East Area”, said Philippe Darmayan, CEO of ArcelorMittal Steel Solutions & Services.
About ArcelorMittal
ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries.
ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in over 20 countries across 4 continents exposes the company to all the key steel markets, from emerging to mature.
ArcelorMittal key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal visit: www.arcelormittal.com
About DSTC LLC
DSTC LLC is a Dubai-based privately owned entity, founded in 1986, which currently employs 50 personnel. It sells principally to the construction market, which represents more than 50% of its activity. DSTC LLC's distributes approximately 120,000 tonnes of products per year. In 2007,its revenues were about €70 million.
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