Arcelor sells Techalloy to Canadian firm

Arcelor sells Techalloy to Canadian firm

Luxembourg-based steel giant Arcelor confirmed that it concluded an agreement to sell its shares in Techalloy Company Inc. to Canadian producer Central Wire. Arcelor owns US-based Techalloy through its subsidiary Ugitech S.A. Techalloy produces stainless steel and nickel alloy wire. Techalloy, which produced 13'400 tons of drawn wire in 2004, posted sales of $93 million.