Enter multiple symbols separated by commas

Arcelor Mittal Sheds Thueringen Steel Plant

Arcelor Mittal announced Wednesday it will sell the German steel company Stahlwerkl Thueringen to Spain's Grupo Alfonso Gallardo as part of its commitment to soothe EU antitrust worries.

Mittal Steel NV is in the process of completing its $33.4 billion acquisition of Arcelor. The merger, due to be completed by April or May, will create the biggest steel company in the world with close to 10 percent of global production.

The Thueringen long carbon steel plant had a 2005 turnover of more than $530 million and employs close to 700 people.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video