ArcelorMittal Construction Sweden has completed its deal with Llentab, a manufacturer and contractor for steel buildings, to acquire its Kungshamn panel production line in Sweden.
News of the deal was first announced in December 2020 and since then, intensive work has been underway to prepare for the takeover on 1 April 2021. Today, the takeover was celebrated with a ceremony in the production premises in Kungshamn.
Speaking on-site, ArcelorMittal Construction Scandinavia CEO Van Hoa Nguyen, said:
"We are very happy to be celebrating the completion of the deal today, and the start of ArcelorMittal operating here in Kungshamn. There is a lot involved in a successful takeover of an industrial asset such as this panel production line, in terms of both people and technology. I am extremely proud of everyone in the team who has put their soul into getting everything in place."
The line, which produces mineral wool (MiWo) panels for steel buildings, adds to the existing profile production lines in ArcelorMittal Construction’s Swedish business, and will boost the company’s competitiveness in the Scandinavian market by giving it its first panel production manufacturing capability in the region.
“This acquisition will allow us to further develop ArcelorMittal Construction’s business in a very dynamic market, by developing and expanding production of MiWo panels in Kungshamn to its full potential and becoming the first-choice supplier of panels in Scandinavia. We will continue to invest in the business here in Kungshamn and hope to create more job opportunities in the area" Van Hoa Nguyen continued.
Production in Kungshamn will be run in close cooperation with Llentab.
"We welcome ArcelorMittal as a ‘neighbour’ here in Kungshamn and look forward to continued cooperation with them", said Stefan Eklund, CEO of Llentab Group.
ArcelorMittal Construction creates innovative building systems for a broad range of buildings and has a presence in 15 countries and around 2,000 employees.
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2020, ArcelorMittal had revenues of $53.3 billion and crude steel production of 71.5 million metric tonnes, while iron ore production reached 58.0 million metric tonnes.
Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/