ArcelorMittal CLN Distribuzione Italia (AMCLN) intends to acquire Acierplus, a newly constituted company, after the European Commission merger regulators approved the deal.
A person close to the deal disclosed that AMCLN is eying three plants that used to be part of a former company called Solustil that are focused on processed steel products for yellow goods and railway part components, a company that used to be owned by AMDS.
Solustil is a flat product metalworking company that stamps, bends, welds for the heavy good machineries, railways and energy sectors. The rest of its operations will be sold to a company called Cellino.
The deal is expected to be done by the end of this year.
AMCLN is a joint venture controlled by ArcelorMittal and Italy’s CLN Group, active in steel distribution through service centers. Acierplus will be focused in the steel distribution through oxycutting centres. Cellino is a metalwork company.
Annalisa Villa, PLATTS