ArcelorMittal CLN offloads shares in San Polo Lamiere

ArcelorMittal CLN, the Italian-based service centre and distribution company, has sold back its shares in distributor San Polo Lamiere to the main shareholder. The latter is an independent steel service centre located in the area of Parma, Kallanish notes.

ArcelorMittal CLN previously held 16.67% of the company, having acquired the shares in 1991 from the family operating San Polo. These have been sold back to the original owner, effective from 28 February 2020.

The sale is part of ArcelorMittal CLN’s strategy to focus its attention on the core businesses of the company.

San Polo Lamiere sells around 200,000 tonnes/year of steel products, mainly in the Italian market. The company celebrated its 50th anniversary in 2019.