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ArcelorMittal Acquires Noble’s European Laser Welded Operations
07/22/2009 - ArcelorMittal completes its acquisition of Noble European Holdings BV from parent company Noble International, Ltd.
ArcelorMittal has completed the acquisition of all issued and outstanding shares of Noble European Holdings BV.
ArcelorMittal signed a definitive purchase agreement in May with Noble BV’s parent Noble International, Ltd. Because Noble International has filed for reorganization under the bankruptcy laws of the United States (April 15, 2009), the purchase was made under section 363 of Chapter 11 of title 11 of the United States Bankruptcy Code by authorization of the United States Bankruptcy Court for the Eastern District of Michigan.
Nobel BV, a Dutch private limited liability company is a leading European manufacturer of tailored blanks. Its operations are located in Belgium, France, Germany, Spain, the UK, Slovakia, Australia and joint ventures in Mexico, China and India.
ArcelorMittal is the world's largest steel company, with operations in more than 60 countries. It is a leader in a range of major global steel 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. With an industrial presence in over 20 countries spanning four continents, the company covers the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal also takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing approximately 10% of world steel output.
Nobel BV, a leading European manufacturer of tailored blanks, employs 481 full time employees and had revenues of EUR 340 million in 2008.
