Arcelor Mittal selling Italian mills to Duferco
Dec 13, 2006 | 08:55 AM
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Arcelor Mittal is selling Travi e Profilati di Pallanzeno and San Zeno Acciai in Italy to Duferco SA for an enterprise value of 117 million euros ($155 million) to meet European Commission concerns about competition in the sections market following Mittal Steel Co. NV's acquisition of Arcelor SA.
Pallanzeno, which is wholly owned by Arcelor Mittal, will roll about 500,000 tonnes of long products this year, including light and medium sections and wide flats and angles for construction.....
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