Nippon Steel Transfers Interests in l/N Tek & l/N Kote to AM

On December 9, ArcelorMittal SA announced the closing of the sale of ArcelorMittal USA Holdings II, a holding company of AM’s businesses in the
Nippon Steel Transfers Interests in l/N Tek & l/N Kote to AM
IN Tek KoteCliffs

On December 9, ArcelorMittal SA announced the closing of the sale of ArcelorMittal USA Holdings II, a holding company of AM’s businesses in the United States to Cleveland-Cliffs Inc, as disclosed on September 28, 2020. Since the sale of AMUSA includes sale of AM’s partnership interests in l/N Tek NSC:40% & AM:60% and l/N Kote NSC:50%, AM:50% joint ventures between Nippon Steel Corporation and AM, NSC completed the transfer of NSC’s partnership interests in the joint ventures to AM on December 9 by exercising a put option pursuant to the joint venture agreements.

l/N Tek and l/N Kote have been manufacturing bases for high grade automotive steel sheets for Japanese automotive customers in the United States. After the transfer, NSC intends to concentrate its resources on AM/NS Calvert, which has one of the most distinguished equipment capabilities in the United States, and to further strengthen its supply capability of full range of products including the state of the art steel products in the North America.

Outline of l/N Tek

Location: New Carlisle, Indiana, United States

Business: Manufacture of cold-rolled steel sheets

Partnership Interest: NSC 40%, AM 60%

Major facilities: 1CDCM (1.54 million metric tons/year), 1 CAPL (1.09 million metric tons/year)

Outline of l/N Kote

Location: New Carlisle, Indiana, United States

Business: Manufacture and sale of hot-dip galvanized and electro-galvanized steel sheets

Partnership Interest: NSC 50%, AM 50%

Major facilities: 1 CGL(0.45 million metric tons/year), 1 EGL(0.41 million metric tons/year)

Outline of AM/NS Calvert

Location: Calvert, Alabama, United States

Business: Manufacture and sale of hot-rolled, cold-rolled, and coated steel sheets

Partnership Interest: NSC 50%, AM 50%

Major facilities: 1 HSM (5.3 million metric tons/year), 1 PLTCM (2.5 million metric tons/year), 1 CAL (0.6 million metric tons/year), 3 CGLs (approx. 1.4 million metric tons/year)

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