Arcelor to sell rebar and mesh plants in Spain

Arcelor to sell rebar and mesh plants in Spain

Luxembourg-based steel producer Arcelor announced today that it signed an agreement with Alfonso Gallardo Group to sell its three rebar and mesh plants in Spain, namely Corrugados Azpeitia, Corrugados Getafe and Corrugados Lasao, to the group. The agreement is subject to the approval of the anti-trust authorities and the completion of the relevant due diligence. The three plants, which shipped 1.7 million tons of steel in 2004, mainly serve construction sector in Spain. Corrugados Azpeitia and Corrugados Getafe have steel shops and rolling mills, while Corrugados Lasao has welded mesh production facility.