The world's largest steel manufacturer ArcelorMittal has announced the acquisition of the remaining 50 percent stakes in Laminadora Costarricense SA and Trefileria Colima SA from Clarion Del Norte (Pujol Group). The acquired companies constitute the only long carbon steel players in Costa Rica.
The initial 50 percent stakes in the companies in question were acquired by ArcelorMittal Brazil in 2005; however, the total value of the new acquisitions has not been disclosed by the parties involved.
Laminadora Costarricense SA has a production capacity of 400,000 mt of rebar and merchant bar per annum, whereas Trefileria Colima SA has an annual output capacity of 60,000 mt of wire products. Both entities employ around 400 people and mainly serve the construction market in Central America and the Caribbean.