ArcelorMittal, Nippon to buy TK Calvert plant

Dec 01, 2013 | 12:56 PM | Catherine Ngai

Tags  ArcelorMittal, Nippon Steel & Sumitomo Metal, ThyssenKrupp, Calvert, acquisition, Lakshmi Mittal, Catherine Ngai

CALGARY, Alberta — ArcelorMittal SA and Nippon Steel & Sumitomo Metal Corp. have agreed to buy ThyssenKrupp AG’s Calvert, Ala., facility for $1.55 billion.

The deal, which is subject to regulatory approval in certain markets, includes a six-year agreement to purchase 2 million tonnes of slab annually from ThyssenKrupp’s slab facility in Brazil, and ThyssenKrupp has the option to extend the agreement....

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