November 22, 2008

ArcelorMittal announces investment in Industeel in France

ArcelorMittal and AREVA sign an industrial partnership in the village of Le Creusot. The EUR 70 million investment aimed at increasing production at the Industeel steel plant regarding its steel products for the nuclear industry.

The investment, which will be staggered between 2008 and 2010, will increase ingot production capacity significantly from 35,000 tonne to 50,000 tonne a year. In addition, the two companies will implement a joint 3 year metallurgy research and development program which will be conducted at the Creusot Materials Research Center.

The release said that “This strategic partnership once again underlines ArcelorMittal’s commitment to France. It is part of multi year steel plant development programs, implemented notably in Dunkirk, Fos and Florange which represent a total investment of EUR 1 billion. This MOU also illustrates the Group’s ability to develop innovative solutions adapted to the specific needs of its industrial customers.”

At a time when the nuclear industry is experiencing strong growth worldwide, this partnership will secure the supply of forged nuclear parts for AREVA, via its subsidiary Creusot Forge and allow it to continue to develop the French nuclear industry. This investment will therefore benefit all the Burgundy region’s nuclear players who have joined forces in a competitiveness cluster known as The Burgundy Nuclear Partnership.