The transaction follows the completion of all required approvals, including approvals from the U.S. and Mexican competition authorities.

Sicartsa is a fully integrated producer of long steel, with an annual production capacity of approximately 2.7 million tonnes. Sicartsa has estimated iron ore reserves of 160 million tonnes, providing 30 years of reserves at current production rates.

In addition to the fully integrated steelmaking facility at Lázaro Cárdenas, next to Arcelor Mittal's Lázaro Cárdenas works, the acquisition includes minimill Metaver, rolling mills at Sibasa and Camsa, and Border Steel, a minimill in Texas.

As announced in December 2006, Arcelor Mittal has also entered into a 50/50 commercial joint venture with Grupo Villacero, active in the distribution and trading of Arcelor Mittal long products in Mexico and in the southwest of the United States, capitalizing on Villacero's commercial network.

Arcelor Mittal is the world's largest steel company, with 320,000 employees in more than 60 countries. It holds a leading position in major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.

Arcelor Mittal key pro forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output.