India, June 18 -- ArcelorMittal (MT) has completed its acquisition of Nippon Steel Corporation's 50% stake in AM/NS Calvert, making it the sole owner of the Alabama-based flat-rolled steel facility, now renamed ArcelorMittal Calvert.
The move finalizes the Equity Purchase Agreement signed in October 2024.
The plant, initially purchased with NSC from ThyssenKrupp in 2014 for $1.55 billion, is one of North America's most advanced steel finishing facilities, with a capacity of 5.3 million metric tonnes per year. It includes high-end hot strip mills, cold rolling capabilities, and advanced coating lines to serve the automotive and energy sectors.
Since the original acquisition, over $2 billion has been invested in upgrades. A new steelmaking...