Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

ArcelorMittal Buy Stainless Steel Tube Manufacturer

Dec 27 2007

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ArcelorMittal, the world's largest steel company, has announced the acquisition of Cínter S.A., an important stainless steel tube producer located in Uruguay. The purchase forms part of the strategy of ArcelorMittal to strengthen its stainless steel business in South America.

Cinter S.A. enjoys a strong position in stainless steel tubes. It has also developed specialties that will complement the current offer of its stainless business. Its net sales for the year ended, September 2007, was US$47million.

Cinter S.A. employs about 200 people in 3 sites located in Montevideo. It is an efficient Company that will perfectly integrate within the growth plan of ArcelorMittal in South America.

The transaction is being reviewed by the competition authorities.

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