The world's largest steel company ArcelorMittal has announced today on July 20 that it has reached a preliminary agreement to acquire two steel tube businesses from France's Vallourec.
The agreement forms part of ArcelorMittal's strategy to expand its business in the automotive sector, as well as to further strengthen its pipes and tubes business.
Vallourec Precision Soudage produces about 100,000 metric tons of welded steel tubes for application in the automotive industry from two mills in France. The second Vallourec business in question, Vallourec Composants Automobiles Vitry, specializes in the design and production of tubular components for automotive vehicles.