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ArcelorMittal Confirms Sale of Its Shares in Paul Wurth to SMS group
06/01/2012 - ArcelorMittal's financial director Aditya Mittal confirmed the sale of ArcelorMittal's shares in Luxembourg company Paul Wurth.
ArcelorMittal's financial director Aditya Mittal confirmed the sale of ArcelorMittal's shares in Luxembourg company Paul Wurth. The company builds steel works products, such as furnaces.
The sale of the 48.1% stake in the company was part of a strategic plan to cast off non-core assets. The German SMS group has acquired ArcelorMittal's shares.
With a presence in more than 60 countries, ArcelorMittal is the leader in all major global carbon steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology. In 2011, ArcelorMittal had crude steel production of 91.9 million tonnes, representing approximately 6% of world steel output. The Group's mining operations produced 54 million tonnes of iron ore and 8 million tonnes of metallurgical coal.
