Texas, Louisiana Mini-Mills on the Sales Block, ArcelorMittal Confirms
02/08/2016 - In addition to its U.S. rail mill in Steelton, Pa., ArcelorMittal has put two other long products mini-mills on the market – its Vinton mini-mill near El Paso, Texas, and the other in LaPlace, La.
The company disclosed the potential sales in its quarterly earnings statement, revealing that its North American division recorded a US$200 million impairment charge as a result of the sale.
In a statement to Platts, the company said that although it is having discussions about selling the facilities, there is no guarantee that a deal will be struck.
"These discussions may or may not result in an offer being accepted,” a spokesman told the publication.
Media reports previously had surfaced that the company was looking to sell the Steelton mill. The company later confirmed that report, and said it was looking to sell other facilities, too. It didn’t name them at the time, however.
The LaPlace mill makes a variety of long products; the Texas mill specializes in rebar manufacturing.
ArcelorMittal last week reported a US$7.9 billion loss during 2015 and announced a plan to improve its operational earnings, targeting a goal of US$85 per ton in EBITDA by 2020. As part of that plan, the company said it would look to optimize its North American footprint.
In a statement to Platts, the company said that although it is having discussions about selling the facilities, there is no guarantee that a deal will be struck.
"These discussions may or may not result in an offer being accepted,” a spokesman told the publication.
Media reports previously had surfaced that the company was looking to sell the Steelton mill. The company later confirmed that report, and said it was looking to sell other facilities, too. It didn’t name them at the time, however.
The LaPlace mill makes a variety of long products; the Texas mill specializes in rebar manufacturing.
ArcelorMittal last week reported a US$7.9 billion loss during 2015 and announced a plan to improve its operational earnings, targeting a goal of US$85 per ton in EBITDA by 2020. As part of that plan, the company said it would look to optimize its North American footprint.
