ArcelorMittal (MT) said Wednesday it completed the acquisition of Nippon Steel's 50% stake in the AM/NS Calvert joint venture after the Japanese steelmaker completed its purchase of US Steel (X).
ArcelorMittal paid $1 for the stake, while Nippon provided cash and forgave partner loans amounting to an estimated $900 million as previously agreed between both sides.
ArcelorMittal said it had renamed the facility to ArcelorMittal Calvert and expects to record an exceptional gain of approximately $1.5 billion in its Q2 results.
The company previously said it would invest $1.2 billion to expand the site with a new manufacturing facility to supply non-grain-oriented electrical steel to different sectors, including automotive and mobility.
The project is advancing to schedule and production is expected to begin in 2027, ArcelorMittal said.
ArcelorMittal's shares were up 1.7% in recent Wednesday trading.
Price: 30.75, Change: +0.49, Percent Change: +1.62
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。