Home News International News International ArcelorMittal to sell stake in Gallatin Steel for US$ 770 mn

    International ArcelorMittal to sell stake in Gallatin Steel for US$ 770 mn

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    ArcelorMittal has inked a pact with Brazil’s Gerdau to sell their 50 per cent stakes in US-based Gallatin for US$ 770 million, as part of its strategy to divest non-core assets. Gallatin Steel is a joint venture between ArcelorMittal and Gerdau. Gallatin is a flat rolled mini-mill located in Gallatin County, Kentucky, USA that melts scrap, pig iron and hot briquetted iron from various sources, and processes the material to produce flat rolled steel. Gerdau is the leading manufacturer of long steel in the Americas and a major global supplier of special long steels. ArcelorMittal is the world’s leading steel and mining company, with a presence in more than 60 countries and an industrial footprint in over 20 countries.

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