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Article: ArcelorMittal to acquire steel units of French firm.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- July 20, 2007
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ArcelorMittal to acquire steel units of French firm
New Delhi, Jul 20 (PTI) Expanding its presence in the automotive sector, world's biggest steel maker ArcelorMittal has reached a preliminary agreement to acquire French major Vallourec's two steel tube making units for an undisclosed sum.
The units - Vallourec Pricision Soudage (VPS) and Vallourec Composants Automobiles Vitry (VCAV) - specialises in the manufacturing of welded steel tubes and tubular components for the automotive industry respectively, according to an ArcelorMittal statement here. VPS has an annual capacity of produce 1,00,000 tons.
"The planned acquisition of these ...