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

Arcelor to Sell Three Rebar and Mesh Production Units in Spain

May 4 2005

Arcelor has signed an agreement with Alfonso Gallardo Group for the sale of Corrugados Azpeitia, Corrugados Getafe and Corrugados Lasao, three rebar and mesh plants located in Spain, to Alfonso Gallardo Group.

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This transaction reflects Arcelor's active management of its business portfolio. The agreement is subject to approval by the anti-trust authorities and to the completion of the relevant due diligences.

Corrugados Azpeitia and Corrugados Getafe each comprise a steel shop and rolling mills, while Corrugados Lasao has facilities for the production of welded mesh. The three companies' shipments totalled 1.7 million tons last year. They supply steel products for the construction sector, serving mainly the Spanish market.

The Alfonso Gallardo Group, which employs 1500 people, is one of the major actors of the Spanish steelmaking sector, with a capacity of 2.5 million tons of finished products. Its 2004 sales amounted to 600 million euros.

http://www.arcelor.com

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