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ArcelorMittal has completed its acquisition of the remaining 50% stake in the Calvert steel facility in Alabama, formerly co-owned with Nippon Steel. The deal includes a nominal share price of $1 and approximately $0.9 billion in cash and receivables.
Now operating as ArcelorMittal Calvert, the site is one of North America's most advanced steel finishing facilities, with an annual production capacity of 5.3 million tonnes. It includes hot strip mills, cold rolling, coating, and annealing lines catering to the automotive and manufacturing sectors.
A key asset is the recently launched 1.5 million tonne electric arc furnace (EAF), enhancing low-carbon steel production and supported by ArcelorMittal’s HBI plant in Texas. The company has also signed a seven-year slab supply agreement with Nippon Steel, ensuring a steady flow of semi-finished steel.
Looking ahead, ArcelorMittal is investing $0.9 billion to build a new non-grain-oriented electrical steel (NOES) facility at Calvert, expected to produce 150,000 tonnes annually by 2027. This will serve the growing electric vehicle and renewable energy markets in the U.S.
With full ownership, ArcelorMittal aims to solidify its presence in the American steel market and advance its sustainable production strategy.
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