ArcelorMittal, the world’s leading steel company, today announces that it has signed an agreement to acquire the Koppers’ Monessen Coke Plant from Koppers Inc. for $US 160 million.
Koppers’ Monessen Coke Plant, located in Monessen, Pennsylvania produced 320,000 metric tons of metallurgical coke in 2007. The transaction is subject to receipt of relevant regulatory approvals.
Commenting, Sudhir Maheshwari, Member of ArcelorMittal’s Group Management Board with responsibility for M&A, Project and Business Development, said:
“This acquisition is an important step towards increasing our upstream self sufficiency in metallurgical coke production during a time when metallurgical coke demand on a global scale remains strong. ArcelorMittal currently purchases all of the coke produced by the Koppers’ Monessen Coke Plant”
Note to Editors
The coke plant at Monessen, PA was built in 1941-1942 by Pittsburgh Steel Company. At present, the facility consists of 2 coke batteries, housing 56 coke ovens which have an annual production capacity of 327,000 metric tons of metallurgical coke.
ArcelorMittal is the world’s leading steel company, with over 320,000 employees in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge: it takes a leading role in the industry’s efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2007 ArcelorMittal had revenues of USD 105.2 billion and crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal visit: www.arcelormittal.com