According to a Tuesday press release, Delaco Steel Corp., a US-based steel part supplier of blanked and slit material to the automotive industry, has formed a joint venture with ArcelorMittal Tailored Blanks Americas Corp., a subsidiary of Luxemberg-based steelmaker ArcelorMittal S.A., to operate two laser welding plants that will primarily serve the automotive industry.
The joint venture, a minority business enterprise, will be called Delaco AMTB. ArcelorMittal Tailored Blanks Americas will own a 49 percent stake in Delaco AMTB, while Delaco will retain the remaining 51 percent stake.