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ArcelorMittal completes acquisition of majority stake in voestalpine’s state-of-the-art HBI facility in Texas

Arcelor Mittal NY Registry Shares NEW (MT) 
Last arcelor mittal ny registry shares new earnings: 2/6 01:00 am Check Earnings Report
US:NYSE Investor Relations: corporate.arcelormittal.com/investors
Company Research Source: GlobeNewswire
1 July 2022, 08:00 CET ArcelorMittal (‘the Company’) today announces that following receipt of customary regulatory approvals it yesterday completed the acquisition of an 80% shareholding in voestalpine’s Hot Briquetted Iron (‘HBI’) plant located near Corpus Christi, Texas. The acquisition, announced in April this year, values the Corpus Christi operations at $1 billion. The state-of-the-art plant is one of the largest of its kind in the world. It has an annual capacity of two million tonnes of HBI, which is a premium, compacted form of Direct Reduced Iron (‘DRI’) developed to overcome issues associated with shipping and handling DRI. The transaction enhances ArcelorMittal’s ability to produce the high-quality input materials required for low-carbon emissions steelmaking, and reinforces the Company’s position as a world leader in DRI production. ArcelorMittal intends to lead the decarbonisation of the global steel industry. More details on the Company’s climate action ambitions, s Show less Read more
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