Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel | Mining

ArcelorMittal to Buy into Middle Eastern Steel Distributor

Jul 1 2008

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ArcelorMittal, the world’s largest integrated metals and mining company, announces that it intends to acquire 60% of the entire issued share capital of DSTC FZCO, a newly incorporated company located in the Dubai free zone.

Together with DSTC FZCO, ArcelorMittal is widening its offering in the Middle Eastern area. DSTC FZCO will acquire the main business of a steel distributor in the United Arab Emirates (UAE), Dubai Steel Trading Company LLC (“DSTC LLC”).

This new acquisition is the first step towards the creation of a fully-fledged distribution network in the Gulf Cooperation Council (GCC) area for the distribution of long and flat steel products (beams, plates, hollow sections).

“This is an important partnership that will spearhead our distribution network in the Middle East Area”, said Philippe Darmayan, CEO of ArcelorMittal Steel Solutions & Services.

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