ArcelorMittal South Africa to acquire Highveld Steel's heavy structural mill

ArcelorMittal South Africa announced its intention to acquire HSM, a subsidiary of Highveld Steel, which is Africa's only producer of heavy structural steel. The deal involves an upfront cash payment of R150 million and a possible further R150 million conditional on a rail offtake agreement.

“The acquisition would ensure that the momentum created under the CMA was sustained and that South Africa retained a regionally strategic steel-manufacturing capability.”engineeringnews.co.za

• 1 source
• engineeringnews.co.zaAMSA moves to buy Highveld’s heavy structural mill, eyes new market-coke partnershipTerence CreamerAug 1, 2019

Summarized from public sources; check the original articles before acting on it.