International Steel Group to Merge With Ispat, LNM
October 25, 2004
The North American steel producer landscape is changing yet again as a key U.S. player is being acquired through a merger with two European steelmakers to form the world's largest steel company, with projected revenues of $30 billion and annual production capacity of 70 million tons. It marks a global shift for International Steel Group, which has been buying the assets of troubled U.S. steelmakers the past several years. U.S. industrial distributors have been enjoying a booming steel industry the past year as global demand has been blistering.
Highlights of the two transactions
' Ispat International has agreed to acquire LNM Holdings. The company will be renamed Mittal Steel Company. Simultaneously, Ispat International and ...