ArcelorMittal completes acquisition of CSP in Brazil
09 März 2023 - 10:15PM
9 March
2023,
22:15 CET
ArcelorMittal (the ‘Company’) announces that following receipt
of customary regulatory approvals it has completed the acquisition
of Companhia Siderúrgica do Pecém (‘CSP’) in Brazil for an
enterprise value of approximately $2.2 billion.
CSP is a world-class operation, producing high-quality slab at a
globally competitive cost. Its facility, located in the state of
Ceará in northeast Brazil was commissioned in 2016. It operates a
three million tonne capacity blast furnace and has access via
conveyors to the Port of Pecém, a large-scale, deep-water port
located 10 kilometers from the plant.
The acquisition offers significant operational and financial
synergies and brings with it the potential for further expansions,
such as the option to add primary steelmaking capacity (including
direct reduced iron) and rolling and finishing capacity. Given its
location, CSP also presents an opportunity to create a new
low-carbon steelmaking hub, capitalising on the state of Ceará’s
ambition to develop a low-cost green hydrogen hub in Pecém.
Commenting, ArcelorMittal CEO Aditya Mittal
said:
“This is a very exciting strategic acquisition for
ArcelorMittal. It enables us to capture steel demand growth through
the addition of high-quality, cost-competitive slab capacity
providing optionality to sell either intra-group or to the North
and South American markets. Over the long-term we also have the
option to increase its capacity and add finishing facilities, while
there is a clear path to decarbonise the asset given the renewable
energy investments being made in the state of Ceará.
“I would like to welcome all CSP employees to ArcelorMittal and
thank our internal team that worked on the transaction and
integration planning. I am confident that CSP and our existing
Brazilian business will make a compelling combination.”
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel
company, with a presence in 60 countries and primary steelmaking
facilities in 16 countries. In 2022, ArcelorMittal had revenues of
$79.8 billion and crude steel production of 59 million metric
tonnes, while iron ore production reached 50.9 million metric
tonnes.
Our purpose is to produce ever smarter steels
that have a positive benefit for people and planet. Steels made
using innovative processes which use less energy, emit
significantly less carbon and reduce costs. Steels that are
cleaner, stronger and reusable. Steels for electric vehicles and
renewable energy infrastructure that will support societies as they
transform through this century. With steel at our core, our
inventive people and an entrepreneurial culture at heart, we will
support the world in making that change. This is what we believe it
takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges
of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and
on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
|
|
Contact
information ArcelorMittal Investor Relations |
|
|
|
General |
+44 20 7543
1128 |
Retail |
+44 20 3214
2893 |
SRI |
+44 20 3214
2801 |
Bonds/CreditE-mail |
+33 171 921
026investor.relations@arcelormittal.com |
|
|
|
|
Contact
information ArcelorMittal Corporate Communications |
|
Paul
WeighTel:E-mail: |
+44
20 3214 2419press@arcelormittal.com |
|
|
ArcelorMittal (EU:MT)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
ArcelorMittal (EU:MT)
Historical Stock Chart
Von Sep 2023 bis Sep 2024