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From Earlier: ArcelorMittal Announces Sale of Its Stake in Paul Wurth Group to SMS GmbH

ArcelorMittal (NYSE: MT) announces today the sale of its 48.1% stake in Paul Wurth Group to SMS GmbH. This transaction is in line with the declared ArcelorMittal's strategy of selective divestment of non-core assets.

Paul Wurth Group is an international engineering company offering the design and supply of the full-range of technological solutions for the iron & steel industry and other metal sectors. In 2011, Paul Wurth Group generated the turnover of EUR 491 million with a net profit of EUR 18.2 million. The company currently employs more than 1600 highly-skilled staff.

The SMS group is, under the roof of SMS Holding GmbH, a group of companies internationally active in the supply of plants and machinery to the steel and nonferrous metals processing industry. In 2011, its 11,000 employees generated sales of over EUR 3 billion.

Posted-In: News Asset Sales

 

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