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

ArcelorMittal Increases Stake in Worls's Largest Producer of Laser-Welded Steel Products

Mar 25 2008

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ArcelorMittal today announces that it has provided Noble International, Ltd. (NASDAQ: NOBL) ("Noble") with a $50 million convertible subordinated loan. The proceeds of this financing will be used by Noble to reduce Noble's North American senior debt and to support its operations.

ArcelorMittal also announces that it has agreed to acquire an additional 10.31% of shares of Noble from Robert J. Skandalaris, Noble's chairman and founder.

This will increase ArcelorMittal's shareholding in Noble to approximately 49.95%.

The agreement is subject to satisfaction of certain conditions.

ArcelorMittal looks forward to working closely with Noble in order to build on Noble's success.

Noble is the world's largest producer of laser-welded steel products.

Posted March 25th,2008

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