Arcelor has signed an agreement for the sale of Corrugados Azpeitia, Corrugados Getafe and Corrugados Lasao, three rebar and mesh plants located in Spain, to Alfonso Gallardo Group.

The transaction reflects Arcelor's active management of its business portfolio. The agreement is subject to approval by the anti-trust authorities and to the completion of the relevant due diligences.

Corrugados Azpeitia and Corrugados Getafe each comprise a steel shop and rolling mills, while Corrugados Lasao has facilities for the production of welded mesh. The three companies' shipments totaled 1.7 million tons last year. They supply steel products for the construction sector, serving mainly the Spanish market.

The Alfonso Gallardo Group, which employs 1500 people, is one of the major actors of the Spanish steelmaking sector, with an annual capacity of 2.5 million tonnes of finished products. Its 2004 sales amounted to 600 million euros.

Arcelor, a leading player of the global steel industry, holds leading positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company — the number one steel producer in Europe and Latin America — aims to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. Arcelor employs 95,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labor relations and social responsibility.