ArcelorMittal Completed Acquisition of Nippon’s Interest in AM/NS Calvert

Further to the transaction, the facility has now been renamed as ArcelorMittal Calvert.

SEATTLE (Scrap Monster): ArcelorMittal announced that it has completed the acquisition of Nippon Steel Corporation’s (NSC) 50% equity interest in AM/NS Calvert. It must be noted that ArcelorMittal already holds the balance stake in the facility. The acquisition is in accordance with the definitive equity purchase agreement between ArcelorMittal and NSC.

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The facility is now known as ArcelorMittal Calvert as a result of the deal. In 2014, ArcelorMittal and NSC first purchased it from ThyssenKrupp for a total of $1.55 billion. One of the most sophisticated steel finishing facilities in North America, it can produce 5.3 million metric tonnes of flat rolled steel annually.

A cutting-edge hot strip mill (HSM), a continuous pickling line (CPL), a coupled pickle line-tandem cold mill (PLTCM), coating and continuous annealing lines, and other assets are housed within the facility.

ArcelorMittal CEO Aditya Mittal commented on the acquisition, saying that the company is thrilled to have full ownership of Calvert and to be able to further expand its market share in the United States. He also expressed his gratitude to the wonderful Calvert residents for their unwavering dedication to making the facility top-notch in every way.