ArcelorMittal, Nippon Pay $1.55B For ThyssenKrupp Plant

Law360, New York (December 2, 2013, 3:50 PM EST) -- ArcelorMittal SA and Nippon Steel & Sumitomo Metal Corporation have agreed to pay $1.55 billion in a 50/50 joint venture to purchase a ThyssenKrupp AG subsidiary that operates a steel processing plant in the United States, the companies said Friday.

ArcelorMittal and NSSMC said each party would provide 50 percent of the capital in the joint venture to acquire 100 percent of ThyssenKrupp Steel USA, which operates a steel processing plant in Calvert, Ala. The plant has a total capacity of 5.3 million tons including hot...
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