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ArcelorMittal Acquires Remaining Stake in Laminadora Costarricense and Trefileria Colima
02/05/2008 - ArcelorMittal acquires the remaining 50% stake of Laminadora Costarricense and Trefileria Colima from Clarion Del Norte, making it the sole owner of the only major long carbon steel producer in Costa Rica.
ArcelorMittal has acquired from Clarion Del Norte (Pujol Group) the remaining 50% stake of Laminadora Costarricense S/A and Trefileria Colima S/A. The other 50% stake is already owned by ArcelorMittal Brasil.
Laminadora Costarricense S/A has a rolled products capacity of 400,000 tonnes/year of rebars and MBQ (merchant bar quality), while Trefileria Colima S/A has a wire products capacity of 60,000 tonnes/year. Both entities employ around 400 people.
Together, Laminadora Costarricense and Trefileria Colima constitute the only long carbon steel player in Costa Rica. They mainly serve the construction market in Central America and the Caribbean.
ArcelorMittal is the world's largest steel company, with 320,000 employees in more than 60 countries. The company leads a number of major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and strong distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
ArcelorMittal’s key pro forma financials for 2006 show combined revenues of USD 88.6 billion, with a crude steel production of 118 million tonnes, representing around 10% of world steel output.
