The world's largest steelmaker ArcelorMittal has announced its acquisition of a 70 percent stake in Carminati Distribuzione S.r.l., one of the leading steel distributors in northern Italy. The company said in its statement that the transaction in question has been approved by the competition authorities; however the financial value of the acquisition has not been disclosed.
ArcelorMittal has also stated that since Italy is the second largest European market in terms of both steel consumption and distribution, the acquisition will allow the company to consolidate its position in the Italian steel distribution markets, where it already operates with two companies, in Udine and Bologna.
Carminati Distribuzione S.r.l. specializes in finished long products with cutting, drilling and flame-cutting activities, for beams and angles.