ArcelorMittal Increases Stake in China Autos JV-Shanghai Metals Market

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ArcelorMittal Increases Stake in China Autos JV

Industry News 09:38:16AM Jun 07, 2012 Source:SMM

(Reuters) - ArcelorMittal (ISPA.AS), the world's biggest steelmaker, said on Wednesday it has increased its stake in a joint venture with Valin Steel 000932.SZ to increase its exposure to China's automotive industry.

It has increased its stake in the joint venture, which supplies steel parts to carmakers, from 33 percent to 49 percent, it said without specifying the costs of the transaction.


 

Key Words:  ArcelorMittal   stake   JV   China   automotive 

ArcelorMittal Increases Stake in China Autos JV

Industry News 09:38:16AM Jun 07, 2012 Source:SMM

(Reuters) - ArcelorMittal (ISPA.AS), the world's biggest steelmaker, said on Wednesday it has increased its stake in a joint venture with Valin Steel 000932.SZ to increase its exposure to China's automotive industry.

It has increased its stake in the joint venture, which supplies steel parts to carmakers, from 33 percent to 49 percent, it said without specifying the costs of the transaction.


 

Key Words:  ArcelorMittal   stake   JV   China   automotive