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Article: ArcelorMittal buys Venezuelan steel pipe maker Unicon
- Article from:
- AP Worldstream
- Article date:
- January 9, 2008
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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The world's largest steelmaker ArcelorMittal SA said Wednesday it agreed to buy Venezuela-based Unicon, a maker of steel pipes for the oil and gas industry, adding to a string of recent South American acquisitions.
"Unicon is an excellent company, commanding a leading position in Venezuela. This highly complementary acquisition will help us expand our position in the fast-growing Americas market," said chief financial officer Aditya Mittal.
The company did not say how much it would pay for Unicon, which employs 2,445 people at six plants in Venezuela and shipped 552,000 metric tons for the year ended March 2007.
Luxembourg-based ArcelorMittal wants to ...