The world's largest steelmaker ArcelorMittal has announced the acquisition of leading UK steel distribution company NSD Limited, based in Scunthorpe, North Lincolnshire and specializing in sales of heavy sections and tubes, for the purpose of boosting its commercial presence in the country's market.
In a statement on the issue, ArcelorMittal said that with an annual sales amount of 130,000 mt (100,000 mt of heavy sections and 30,000 mt of tubes) and a turnover of €89 million, NSD will enable ArcelorMittal Distribution to gain a significant market share in the UK.
Commenting on the acquisition, Gonzalo Urquijo, member of ArcelorMittal's group management board responsible for steel solutions and services as well as for long products Europe, said, "ArcelorMittal will extend its position in the attractive UK market which, whilst being mature, is still very profitable."