Arcelor to buy Sonasid stake

Luxembourg-based steelmaker Arcelor SA disclosed that it will buy 50 percent of Moroccan steel firm Societe Nationale de Siderugie, known as Sonasid. Arcelor indicated that the main objective of the agreement is to consolidate and develop the position of Sonasid in the Moroccan market. Furthermore, Arcelor and Sonasid have agreed to jointly analyze the possibility of Sonasid becoming a platform for future developments in the region. In addition, the agreement will enable Arcelor to strengthen its positions in markets with a high growth potential.