ArcelorMittal takes full control of its stainless service centre in Turkey and will gradually double its operations

Monday, Jul 14, 2008

Luxembourg, 14 July 2008 - ArcelorMittal and Primex (Germany) have reached an agreement whereby ArcelorMittal Stainless International is acquiring the 35% stake in Uginox Sanayi ve Ticaret Limited Sirketi ("Uginox") which was owned by Primex.

Uginox was formed in 1997 as a 65/35 joint venture between Arcelor and Primex. Uginox operates a coil processing and service centre in Gebze, close to Istanbul. Most of its business is dedicated to servicing the fast growing automotive and white goods markets. In 2007, it processed about 38,000 tons of stainless steel and had revenues of about 102 million USD.

ArcelorMittal has also decided to gradually double, over the coming years, the size of its stainless service operations in Turkey, which will be renamed ArcelorMittal Istanbul Stainless Service Turkey.

Jean-Yves Gilet, CEO of ArcelorMittal Stainless, said : "This transaction consolidates our positions on a fast growing market and allows us to follow our key customers from the appliance and automotive sectors in their own development".  

About ArcelorMittal

ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries.

ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in over 20 countries across 4 continents exposes the company to all the key steel markets, from emerging to mature.

ArcelorMittal key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris ( MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal visit: www.arcelormittal.com

Source: ArcelorMittal