Arcelor Mittal in $1.4-billion deal to buy Sicartsa

Dec 20, 2006 | 01:43 PM |

Arcelor Mittal has signed a deal to acquire Siderúrgica Lázaro Cárdenas Las Truchas (Sicartsa), an integrated long products mill in Mexico, from Grupo Villacero for $1.44 billion.

The move will make Luxembourg-based Arcelor Mittal, already the world's largest steelmaker, the largest producer in Mexico. It marks the first major acquisition by the nascent group since Arcelor SA and Mittal Steel Co. NV agreed to merge last year.

The purchase of Sicartsa and the merger of Arcelor and Mittal Steel are expected to be completed in the first quarter of 2007.....

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