ArcelorMittal, the world's largest integrated metals and mining company, has announced its acquisition of 70 percent of shares in Brazilian-based steel processor Manchester Tubos e Perfilados S.A. (Manchester), thereby reinforcing its steel service center network in Brazil.
Manchester is located in Contagem, Minas Gerais, and serves the construction segment, which represents 50 percent of its activity, as well as the industry and automotive segments. The mill's capacity is 240,000 mt per year for end products, and 60,000 mt per year for processed products.
Following the purchase on April 3, 2008 of a 50 percent stake in Gonvarri Brasil, the new acquisition of Manchester will allow ArcelorMittal to downstream its position in Brazil, widening its product offering with an extended range of flat products (coils and blanks), profiles, tubes and pipes.
Commenting on the acquisition, ArcelorMittal Group Management Board member Michel Wurth stated, "Penetrating this fast growing market with a diversified offer, from tubes to structural profiles, is considered as a great opportunity for the Group".