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ArcelorMittal seals PLN 150m takeover of steel centres in Poland, moves to relaunch third furnace


2011-02-08



The Office of Competition and Consumer Protection (UOKiK) has given the green light for ArcelorMittal, the world’s largest steel company, to acquire 11 steel centres in Poland from Cognor, a leading Polish steel distributor with extensive operations in Central and Eastern Europe. The deal is worth nearly PLN 150m (approx. €38m).

Meanwhile, preparations have got underway for the relaunch of the third blast furnace at ArcelorMittal Poland on 15 March, following a maintenance halt that started in August 2010. The company has four furnaces in the country. The fourth one has been out of production since the autumn of 2008, when the firm was hit by a dramatic fall in demand for steel products caused by the global crisis.



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