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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