ArcelorMittal, Nippon Steel & Sumitomo Metal Acquire ThyssenKrupp Steel USA
ArcelorMittal entered into a 50/50 joint-venture partnership with Nippon Steel & Sumitomo Metal Corp. (NSSMC) to acquire 100% of ThyssenKrupp Steel USA (TK Steel USA) for $1.55 billion. Calvert, Ala.-based TK Steel USA is a steel processing plant with a total capacity of 5.3 million metric tons. The facility includes hot-rolling, cold-rolling, coating and finishing lines. The transaction includes a six-year agreement to purchase 2 million metric tons of slab per year from TK CSA, an integrated steel-mill complex located in Rio de Janeiro, Brazil. The remaining slab balance will be sourced from ArcelorMittal plants in the U.S., Brazil and Mexico. TK Steel USA complements ArcelorMittal’s existing auto business in the U.S., and it also strengthens the company’s position in supplying the NAFTA energy industry.