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ArcelorMittal shares transmits Algerian companies

MMC ArcelorMittal is going to transfer some of its assets IMetAl, Algerian state company. Part of steelmaker ArcelorMittal Algeria will be 49%, rolling production ArcelorMittal Pipes & Tubes Algeria 51%. Also, the transfer will affect the iron ore company ArcelorMittal Tebessa. The cost of the transaction has not yet announced. Official registration will be in November or December 2015.

In 2001, ArcelorMittal acquired Algerian Integrated Iron and Steel Works Annaba. It consists of Pipe Plant, which produces seamless pipes. In addition to his Annaba consisted of two iron ore businesses. After purchasing the plant was renamed ArcelorMittal Algeria. At the time of the transaction object performance was about 1 million. Tonnes / year of steel. The maximum level in excess of 1.15 million. Tons, achieved in 2006. The plant is equipped with 2 converters and 2 blast furnaces. The products include galvanized steel, wire rod, rebar, cold rolled and hot rolled coils.

In 2005, the agreement on association with the EU has opened up the Algerian market of European products. As a result, in 2008 ArcelorMittal Algeria forced to cut its production to 600 000 tons. Profitability of the plant dropped to negative figures. In 2010, ArcelorMittal assessed the possibility of closing the plant. However, in September 2013, ArcelorMittal Algeria was effectively nationalized. The share of a member of the public company Sider has increased from 30% to 51%. Accordingly, part of ArcelorMittal owned, decreased to 49%. The cost of the deal is still unknown. If you believe the rumors, the amount reached 1 Algerian Dinar. After the transaction situation has not changed for the better. Last year, steel production fell to 200 000 tonnes. ArcelorMittal Pipes & Tubes Algeria in 2014 produced 115 thousand tons of pipes.

Lost in Algeria, ArcelorMittal company intends to strengthen its position in Mexico. In order to increase production of steel pipes, it is investing in the production of 11.1 million. USD. Following the plan, investment will be spent on new electric welding mill and related equipment. The current plant, which is scheduled modernization, located in Monterrey. Current products include welded pipes. Their diameter 11−165 mm. Use these products in the automotive sector and other industries.

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