ArcelorMittal still keen on ThyssenKrupp mill

Nov 07, 2013 | 05:25 PM | Catherine Ngai

Tags  steel, flat-rolled steel, slab, Alabama mill, ThyssenKrupp, ArcelorMittal, ArcelorMittal USA, Louis Schorsch Lakshmi Mittal

NEW YORK — ArcelorMittal SA, the world’s largest steelmaker, remains interested in ThyssenKrupp AG’s rolling facility in Calvert, Ala., according to its top executive.

"On Alabama, we have said before that we continue to remain interested. We think that it is a good asset and it could (help) our franchise in the United States," Lakshmi Mittal, chairman and chief executive officer of the Luxembourg-based steelmaker, told analysts during a Nov. 7 conference call on its third-quarter earnings results.

When asked about the company’s interest in ThyssenKrupp’s slab facility, Cia. Siderúrgica do Atlântico SA, which is also up for sale, Mittal said the "one thing that we are not is short slab."

Speculation among market participants has mounted recently that an imminent deal for ThyssenKrupp’s Alabama facility could be announced in the coming days, and that the likely buyers would be ArcelorMittal and Tokyo-based Nippon Steel & Sumitomo Metal Corp.....

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