ArcelorMittal Mulling Options for Subsidiary Industeel
ArcelorMittal is looking for financial partners for its subsidiary Industeel, whose two main centers are in Charleroi and Le Creusot and an investment bank has
ArcelorMittal is looking for financial partners for its subsidiary Industeel, whose two main centers are in Charleroi and Le Creusot and an investment bank has been appointed to survey the market. A spokesperson said "ArcelorMittal confirms that it has launched a review process for Industeel's portfolio to determine whether a different shareholding structure, for example partnerships, could strengthen the company. The entire subsidiary is for sale, and not just the activities in Charleroi.”
Industeel specializes in the production of hot rolled and forged sheet metal, ingots and steel forgings. It employs more than 2,300 people at six production sites in France and Belgium. Industeei comprises 3 EAF-based production sites Le Creusct 120,000 tonnes of plate per year, Chateauneuf 60.000 tonnes per year in France and Charleroi 250,000 tonnes per year in Belgium, as well as two finishing facilities in France and one ring mill in Belgium. The company has one of the widest plate product portfolios in the world, being capable of producing hot rolled and forged steel plates as well as ingots and formed pieces in carbon, low alloy, stainless and nickel alloyed st.eels in 4950 mm thickness, up to 4,300 mm width and up to 100 tonnes weight.