ArcelorMittal has announced that it will acquire M.T. Majdalani Y Cia. S.A., the leading stainless steel service center and distributor in Argentina.
ArcelorMittal said in a press release that M.T. Majdalani's stainless sheets and tubes will be highly complimentary to the company's existing stainless steel activities in South America, and will fit their growth plan perfectly.
M.T. Majdalani has one site located in Buenos Aires, which sold approximately 12,000 metric tons in 2006 with a turnover of US$40 million. It specializes in flat stainless products with a cut-to-length and slitting facility. The company employs 75 people and had been entirely family owned since it was founded in 1941.