ArcelorMittal agrees to buy Canadian Metal Recycler
ArcelorMittal, the world's largest steelmaker, agreed to buy Canadian scrap-metal recycler Bakermet, to boost its supply of raw materials.
By Agencies |
LONDON: ArcelorMittal, the world's largest steelmaker, agreed to buy Canadian scrap-metal recycler Bakermet, to boost its supply of raw materials.
Bakermet processed about 130,000 short tons of ferrous metals and 40 million pounds of non-ferrous metals last year, Luxembourg-based ArcelorMittal said on Monday.
The Bakermet plant near Ottawa in Eastern Ontario will supply materials including "shredded metal" to ArcelorMittal's Contrecoeur mill, Jos Jacque, the steelmaker's Chief Executive Officer of Long Carbon North America said.
ArcelorMittal, led by Chairman Lakshmi Mittal, has bought rival companies as well as coal and iron-ore mines to increase the supply of raw materials it needs to boost steel output.
Bakermet processed about 130,000 short tons of ferrous metals and 40 million pounds of non-ferrous metals last year, Luxembourg-based ArcelorMittal said on Monday.
The Bakermet plant near Ottawa in Eastern Ontario will supply materials including "shredded metal" to ArcelorMittal's Contrecoeur mill, Jos Jacque, the steelmaker's Chief Executive Officer of Long Carbon North America said.
ArcelorMittal, led by Chairman Lakshmi Mittal, has bought rival companies as well as coal and iron-ore mines to increase the supply of raw materials it needs to boost steel output.
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