Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Arcelor/Severstal Merger Details Disclosed
Jun 16, 2006
 Printable format
 Email this Article
 Search

Arcelor SA (Luxembourg) released a document detailing its proposed merger with Russia's Severstal.

Alexey Mordashov will contribute his steel and mining assets and his economic interest in OAO Severstal, as well as 1.25 billion euros (approx. U.S. $1.58 billion) cash. Arcelor will issue 295 million new shares, representing approximately 32 percent of Arcelor’s enlarged share capital.

Arcelor said it and Severstal are complementary both from a geographical and an industrial standpoint.

"The combination of high value-added products and highly competitive production facilities in the combined company will create the world’s leading steel producer and one of the most profitable players in the steel industry, with high resilience to the steel cycle and improved positioning to continue to develop in a consolidating steel industry," Arcelor said in a statement.

It remains unclear how Mittal Steel Company N.V. will proceed with its own plans to acquire Arcelor. Mittal made its first offer for Arcelor in January 2006 and last week received clearance from the European Commission for the acquisition.

Back to Daily News

 

Daily News

...........................................................

Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows