(WKRG) – Luxembourg-based ArcelorMittel is selling all of its U.S. assets but will continue to run its joint operation with Japan-based Nippon Steel in north Mobile County.
Monday Cleveland-Cliffs agreed to buy the U.S. assets of ArcelorMittal for about $1.4 billion in cash and shares. ArcelorMittel is the world’s largest steelmaker. Cleveland-Cliffs is the largest U.S. producer of iron ore pellets and bought U.S. steel producer AK Steel for $3 billion in March.
AM/NS Calvert in north Mobile County employs 1,600 workers at its steel finishing facility. Last month, AM/NS announced a half-billion-dollar expansion that would add an electric arc furnace.
The Calvert facility opened a decade ago as a ThyssenKrupp steel and stainless mill. Finnish company Outokumpu now operates the stainless steel facility.
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