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ArcelorMittal Reinforces its Brazilian Steel Service Center Network
07/28/2008 - ArcelorMittal acquires a 70% share of Manchester Tubos e Perfilados SA, a Brazilian steel processor and distributor located in Contagem, Minas Gerais.
ArcelorMittal has acquired a 70% share of Manchester Tubos e Perfilados SA, the Brazilian steel processor and distributor located in Contagem, Minas Gerais.
ArcelorMittal said this new acquisition will reinforce its downstream position in Brazil, complimenting its April 3rd acquisition of a 50% stake in Gonvarri Brasil. The acquisition of Manchester and its partnership with Gonvarri will help ArcelorMittal to widen its product offering in the distribution segment in Brazil, allowing it to offer an extended range of flat products (coils and blanks), profiles, tubes and pipes.
From this new location, ArcelorMittal will target the construction market. “Penetrating this fast growing market with a diversified offer, from tubes to structural profiles, is considered as a great opportunity for the Group”, said Michel Wurth, member of the Group Management Board, in charge of Steel Solutions and Services.
Founded in 1989, privately owned Manchester serves the construction segment, which represents 50% of its activity, as well as the industry and automotive segments. Its capacity is 240,000 tonnes per year for end products, and 60,000 tonnes per year for processed products (cut-to-length and slit products). 2007 net sales were 270 million Reals. The company employs 500 people.
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 assets, as well as sizeable captive supplies of raw materials and outstanding 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.
