ArcelorMittal, Hunan Valin Group and Hunan Valin Steel Co. have announced their cooperative launch of Valin ArcelorMittal Automotive Steel, an industrial and commercial automotive joint venture. The new venture will have an annual production of 1.2 million metric tons of flat carbon steel, mainly for automotive applications. Products will include cold-rolled steel, galvannealed steel and pure zinc galvanized steel. It will be located in Hunan Province next to Hunan Valin Steel’s subsidiary, Lianyuan Steel, which will supply hot-rolled coil to the JV.
ArcelorMittal has acquired Astralloy Steel Products Inc., a subsidiary of IMS International Metal Service. Astralloy, which had 2007 revenues of $34 million, operates three warehouses and employs 60 people in North America. Products feature a mix of wear-resistant products and high-tech steels.