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ArcelorMittal Acquires Outstanding Shares in Rolanfer Recyclage
07/17/2008 - ArcelorMittal acquires the outstanding 60% of shares in Rolanfer Recyclage SA, giving it 100% control over the company.
ArcelorMittal has acquired the outstanding 60% of shares in Rolanfer Recyclage SA, giving it 100% control over the company.
Based in Yutz, France, near the border with Luxembourg, Rolanfer operates a shredder at the port of Illange. It specializes in the processing and recycling of scrap metal products including incinerated scrap, shredded scrap, and demolition scrap.
The bulk of Rolanfer’s production is delivered to ArcelorMittal sites in Luxembourg. ArcelorMittal said the acquisition will help it to secure the supply of scrap metal to ArcelorMittal operations in the region.
In 2007 Rolanfer’s gross turnover was €13 million ($US 20.6 million at current exchange rates) and it shipped approximately 86,000 tonnes of scrap metal for the year. The company currently employs 24 staff, and David Iroz will serve as its new Managing Director.
ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries. The company leads a number of major global markets, and holds leading R&D and technology, as well as sizeable captive supplies of raw materials and significant distribution networks. An industrial presence in over 20 countries across 4 continents exposes the company to key steel markets, from emerging to mature.
ArcelorMittal’s key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10% of world steel output.
