SigmaRoc Agrees on New Joint Venture With ArcelorMittal
12 September 2022 - 9:28AM
Dow Jones News
By Ian Walker
SigmaRoc PLC said Monday that it has agreed to a new joint
venture with steel maker ArcelorMittal to create a new lime
production company.
The London-listed quarried materials group said it expects to
contribute 20 million euros ($20.1 million) into the new joint
venture.
Initially the joint company will construct three new lime kilns
in Dunkirk, France for which permit planning has already started,
with final approval expected by the end of next year.
"For SigmaRoc, this represents another important milestone in
establishing ourselves as a leading European specialist quarried
materials group in addition to helping us further on the road to
net zero by 2040," Chief Executive Max Vermorken said.
"The joint venture is reflective of this ambition and represents
one of a number of important initiatives, both organic and
inorganic, that we are pursuing," Mr. Vermorken said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
September 12, 2022 03:13 ET (07:13 GMT)
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