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Steel giant Arcelor Mittal intend to buy Mexican producer

 
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the_380
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PostPosted: Wed Dec 20, 2006 9:06 pm    Post subject: Steel giant Arcelor Mittal intend to buy Mexican producer Reply with quote

PARIS (AFP) - Arcelor Mittal, the world's leading steel maker, has signalled its intention to pursue global steel sector consolidation, as it announced plans to acquire a Mexican producer and was reported to be interested in a Russian company as well.

Arcelor Mittal, formed five months ago in the merger of Mittal Steel and European producer Arcelor, said Wednesday it would buy Mexican long steel manufacturer Sicartsa for 1.44 billion dollars (1.1 billion euros).

The company also announced the creation of a joint venture with the parent company of Sicartsa, Grupo Villacero, for the distribution and sale of its products in Mexico and the US southwest.
Mittal's hungry

This man's on the run again. Maybe he'll build a steel empire where in all steel cos will either be mittal's or have mittal holding shares in them Cool Rolling Eyes
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AKLDELNonstop
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PostPosted: Thu Dec 21, 2006 5:01 am    Post subject: Reply with quote

Why doesnt he buy CSN and do Tata a favour Laughing
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the_380
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PostPosted: Thu Dec 21, 2006 1:36 pm    Post subject: Reply with quote

AKLDELNonstop wrote:
Why doesnt he buy CSN and do Tata a favour Laughing


If im not wrong Mittal has been interested from a long time to buy SAIL.
Also i liked one of his statements in which he said:"whenever the govt decides to sell SAIL we are always there for them"

Sorry but whats CSN?
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AKLDELNonstop
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PostPosted: Thu Dec 21, 2006 1:40 pm    Post subject: Reply with quote

I think GoI is not letting him buy SAIL.

CSN is a Brazilian company that has put a rival offer to counter Tata's bid for Corus. Corus is an Anglo-Dutch Steel Company that Tata wants to buy.

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aarbee
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PostPosted: Thu Dec 21, 2006 10:20 pm    Post subject: Reply with quote

AKLDELNonstop wrote:
I think GoI is not letting him buy SAIL.

CSN is a Brazilian company that has put a rival offer to counter Tata's bid for Corus. Corus is an Anglo-Dutch Steel Company that Tata wants to buy.

Cheers

Tata's bid for Chorus was the biggest thing going around the news in OCT-NOV time. CSN has upped the ante.
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AKLDELNonstop
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PostPosted: Fri Dec 22, 2006 7:26 am    Post subject: Reply with quote

aarbee wrote:

Tata's bid for Chorus was the biggest thing going around the news in OCT-NOV time. CSN has upped the ante.


If successful it will be the biggest acquisition by an Indian firm ever. So a lot is at stake in this merger.
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