15
Sep
01:00
ArcelorMittal and Gerdau each sell 50% of Gallatin to Nucor
Global steelmaker ArcelorMittal and American longs producer, Gerdau have entered into a definitive agreement to sell their respective 50% interests in Gallatin Steel Company to the US Nucor Corporation. In a joint announcement the pair note that the mini-mill, which produces flat rolled steel in Kentucky, USA, will sell for a total cash consideration of $770 million, subject to customary closing adjustments.
Gallatin takes scrap, pig iron and hot briquetted …
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