ArcelorMittal to Buy Majority of Voestalpine's Texas HBI Plant
2022年4月14日 - 3:21PM
Dow Jones News
By Joshua Kirby
ArcelorMittal said Thursday that it has agreed to buy a majority
stake in peer Voestalpine AG's hot briquetted iron plant in Texas
in the U.S., in a deal that values the operations at $1
billion.
The steel maker will take an 80% stake in the plant at Corpus
Christi, which has an annual capacity of two million metric tons of
HBI. The product is a high-quality feedstock made through the
direct reduction of iron ore, used to produce high-quality steel
grades in an electric arc furnace, but which can also be used in
blast furnaces, resulting in lower coke consumption, ArcelorMittal
said.
As part of the transaction, the company has also agreed to
supply Austria's Voestalpine with an annual volume of HBI in line
with the latter's equity stakes in steel mills at Donawitz and Linz
in Austria. Voestalpine will retain the remaining 20% stake in the
plant.
The remaining balance of production will be delivered to third
parties under existing supply contracts and to ArcelorMittal's own
facilities, the company said.
The stake acquisition is subject to customary regulatory
approvals, ArcelorMittal added.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
April 14, 2022 02:06 ET (06:06 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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