ArcelorMittal reportedly seeking buyers for three US mills

Monday, 08 February 2016 00:09:30 (GMT+3)   |   San Diego
       

According to news reports, ArcelorMittal is considering the sale of three steel mills in the US: Steelton (Pennsylvania), Vinton (Texas) and LaPlace (Louisiana). Steelton’s mayor told media in January that the steelmaker confirmed the potential sale, but at that time ArcelorMittal would not comment on the speculation.

New reports this week indicate the company is interested in selling after reporting dismal Q4 and full-year 2015 results. ArcelorMittal lost $7.9 billion for the year, and in the fourth quarter the company’s North American segment reported an operating loss of $741 million.

The three mills under sale consideration all produce long products.

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