Regulatory News:
ArcelorMittal has acquired a 70% share of Manchester Tubos e Perfilados S.A, the Brazilian steel processor and distributor located in Contagem, Minas Gerais. This new acquisition will reinforce ArcelorMittal’s downstream position in Brazil, following the acquisition on April 3rd of a 50% stake in Gonvarri Brasil.
With the acquisition of Manchester, and with its partnership with Gonvarri, ArcelorMittal will widen its product offering in the distribution segment in Brazil. The Group will now offer an extended range of flat products (coils and blanks), profiles, tubes and pipes.
From this new location, ArcelorMittal will target the construction market. “Penetrating this fast growing market with a diversified offer, from tubes to structural profiles, is considered as a great opportunity for the Group”, said Michel Wurth, member of the Group Management Board, in charge of Steel Solutions and Services.
Manchester was founded in 1989 and is privately owned. It serves the construction segment, which represents 50% of its activity, as well as the industry and automotive segments. Its capacity is 240,000 tonnes per year for end products, and 60,000 tonnes per year for processed products (cut to length and slit products). 2007 net sales were 270 million Reals. The company employs 500 people.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with over 310,000 employees in more than 60 countries.
ArcelorMittal is the leader in all major global steel 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. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge: it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2007 ArcelorMittal had revenues of USD 105.2 billion and 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
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