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BUCHAREST (Romania), April 13 (SeeNews) - Luxembourg-based multinational steel manufacturing corporation ArcelorMittal said on Friday it has proposed to the European Commission (EC) a package of divestments which includes Romanian and Macedonian assets.
The divestment package is part of the company's efforts to obtain the EC's approval for the takeover of Italian steelmaker Ilva. The EC opened an investigation into the deal in November, concerned that it could reduce competition for flat carbon steel products and lead to higher prices for consumers.
The proposed divestment package includes the company's steel mills in Galati, in southeastern Romania, and in the Macedonian capital Skopje.
It also includes ArcelorMittal Piombino, the company’s only galvanised steel plant in Italy, ArcelorMittal Ostrava in the Czech Republic and ArcelorMittal Dudelange in Luxembourg.
Furthermore, the company offers to sell hot dipped galvanising lines 4 and 5 in Flemalle, hot-rolled pickling, cold rolling and tin packaging lines in Tilleu, all located in Liege, Belgium.
The EC is expected to come up with a final decision on the case by May 23.
Besides the steel mill in Galati, ArcelorMittal has five more operating facilities in Romania - a steel mill in Hunedoara, in the west f the country, a lime quarry in the eastern city of Tulcea, two plants for tubular products in Iasi and Roman, both in eastern Romania, and Romportmet, a captive port on the river Danube.
ArcelorMittal Galati employs about 6,200 people and is the largest integrated steel plant in Romania. In March, it invested 10 million euro ($12.23million) to upgrade one of its casting machines.
Formerly known as Sidex Galati, it was bought by LNM Holdings NV in 2001 from the Romanian state, for 70 million euro. In 2004, it became part of Mittal Steel, a company created by the merger between LNM Holdings NV and Ispat International. Two years later, following a merger between Mittal Steel and Arcelor, Sidex became ArcelorMittal Galati.
ArcelorMittal Skopje is of one the largest steel product manufacturers in the Balkans offering cold rolled coils and Sheets, as well as galvanized and pre-painted coils, mainly for the general Industry segment on the regional market. It is integrated to the ArcelorMittal FCE (Flat Carbon Europe) structure.
ArcelorMittal, formed in 2006 from the takeover and merger of Arcelor by Mittal Steel, is the world‘s leading integrated steel and mining company, with a presence in more than 60 countries.