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BUENOS AIRES (Scrap Monster): Acindar, a subsidiary of ArcelorMittal in Argentina, confirmed to the government that the program to enlarge local supply of special steels has been launched.

This program is expected to gain the substitution of imports valued at $30 million in the short and medium term.

Gabriel Dattilo, the General Manager of Acindar, promised to Madam Débora Giorgi, the Minister of Industry that the company will cooperate with government’s Industry Plan 2020.

At present, Acindar is developing products of rolled flat bars, draw bars and carbon steel for the production of suspension, spring and damper in automobile industry. According to this program, Acindar is able to provide 211,000 tons a year to automobile industry.

ArcelorMittal S.A. (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT) is the largest steel producing company in the world and is the market leader in steel for use in automotive, construction, household appliances and packaging.