ArcelorMittal Completes Nippon Steel Stake Acquisition

ArcelorMittal S.A., a global steel giant, has finalized the acquisition of a 50% stake from Nippon Steel Corp. in the AM/NS Calvert joint venture, thereby acquiring full control over the Alabama steel mill. Initiated in October 2024 to resolve regulatory challenges associated with Nippon Steel's acquisition of US Steel, this acquisition marks a significant restructuring within the steel industry. The plant, originally constructed by ThyssenKrupp at a cost of $5 billion and acquired by ArcelorMittal and Nippon in 2014 for $1.55 billion, boasts premier facilities making it North America's most productive steel finishing plant. Post-acquisition, ArcelorMittal plans to rebrand the venture to ArcelorMittal Calvert. Over $2 billion in investments have been injected into the mill, enhancing both productivity and sustainability. This includes a new steelmaking plant capable of producing 1.5 million tons of low-CO2 steel annually. ArcelorMittal, the world’s second-largest metallurgical firm, continues to expand its reach, operating in 18 countries with products sold in 160. In contrast, Nippon Steel, headquartered in Tokyo, stands as Japan’s largest steel producer, having formed through the merger of Nippon Steel and Sumitomo Metal in 2012.