- Potential new platform company for Mutares, first new platform in 2019
- Products focused on steel wire and ropes for construction and automotive
- Binding offer will be presented to the workers’ representatives of the target on April 24
- Further announcements on the transaction will be made after the consultations
Munich/Paris, April 23, 2019 – Special situation investor Mutares (ISIN: DE000A2NB650) has made a binding offer to acquire ArcelorMittal TrefilUnion SAS, a French company with two plants, from Luxemburg group ArcelorMittal. The transaction would represent the third transaction and first new platform acquisition in 2019 for Mutares.
TrefilUnion is active in the fabrication of products from different kinds of steel. It produces wires and steel ropes in its two French plants with a product portfolio ranging from thin spring wire for the automotive market to heavy specialties for bridges and the pre-stressed concrete market. TrefilUnion serves customers from various industries, including the energy, construction, household, agriculture, or automotive industries.
The binding offer will be presented to the workers’ representatives of ArcelorMittal TrefilUnion SAS on April 24, 2019, in accordance with legal provisions. Further announcements concerning the transaction will be made after those consultations.
Company profile of ArcelorMittal
ArcelorMittal is the global leader in the steel and mining industry, with 209,000 employees, active in 60 countries with an industrial footprint in 19 countries. ArcelorMittal aims at a safe and sustainable steel and is the main quality steel supplier on the main international steel markets, including the automotive, building, appliances and packaging industries. ArcelorMittal is sustained by a global R&D department and an outstanding supply chain.
In 2018, ArcelorMittal generated USD 76.0 billion turnover for a USD 92.5 million tons production of bare steel, with an internal iron ore production of USD 58.5 million tons.
In France, ArcelorMittal has 15,900 employees including over 800 researchers, split between 40 production sites, several distribution sites and service centers, and its 3 R&D sites. ArcelorMittal produced 11 million tons of liquid steel in France in 2018. France accounts for about one-third of ArcelorMittal’s flat steel production in Europe.