ArcelorMittal sells its 35% stake in Gestamp Automoción for ?875m
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ArcelorMittal S.A. /
ArcelorMittal sells its 35% stake in Gestamp Automoción for ?875m
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5 February 2016
ArcelorMittal today announces it has sold its 35% stake in Gestamp Automoción
("Gestamp") to the majority shareholder, the Riberas family, for a total cash
consideration of ?875m. The transaction is unconditional and payment is expected
to be made to ArcelorMittal within six months. In addition to the cash
consideration, ArcelorMittal will receive a payment of ?10m as a 2015 dividend.
ArcelorMittal entered into a joint venture with the Riberas family in 1998 with
the intent of developing, through Gestamp, the business of stamping, assembly
and welded blanks for automotive original equipment manufacturers (OEMs). Over
the years, Gestamp has established itself as a global market leader in the
design and manufacture of metal components and assemblies for sale to automotive
OEMs, with a leadership position in hot-stamped technology. Gestamp now operates
95 plants located in 20 countries, supplying body-in-white, chassis structures,
opening systems and mechanisms to all the major car manufacturers from Europe,
the Americas and Asia.
ArcelorMittal will continue its supply relationship with Gestamp through its
35% shareholding in Gonvarri, a sister company of Gestamp. ArcelorMittal sells
coils to Gonvarri for processing before they pass to Gestamp and other
customers. Further, ArcelorMittal will continue to have a board presence in
Gestamp, collaborate in automotive R&D and remain its major steel supplier.
Aditya Mittal, CEO of ArcelorMittal Europe and group CFO, said: "The sale of our
stake in Gestamp unlocks substantial value for ArcelorMittal's shareholders and
is consistent with our stated strategy of portfolio optimisation. Most
importantly, our major supplier relationship with Gonvarri and Gestamp is
unaffected by this transaction and we will continue to work together to supply
automotive OEMs with world-class automotive steel products."
Francisco J. Riberas, president and CEO of Gestamp, said: "Our commitment to
growth and market leadership is part of our DNA and we have been proud to have
ArcelorMittal as a loyal and reliable partner in this long-term endeavour.
Looking ahead, Gestamp and Gonvarri will continue their strategic relationship
with ArcelorMittal in our common interest".
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence
in 60 countries and an industrial footprint in 19 countries. Guided by a
philosophy to produce safe, sustainable steel, we are the leading supplier of
quality steel in the major global steel markets including automotive,
construction, household appliances and packaging, with world-class research and
development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components people use in their everyday lives more energy efficient.
We are one of the world's five largest producers of iron ore and metallurgical
coal and our mining business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal assets, we are
strategically positioned to serve our network of steel plants and the external
global market. While our steel operations are important customers, our supply to
the external market is increasing as we grow.
In 2014, ArcelorMittal had revenues of US$79.3 billion and crude steel
production of 93.1 million tonnes, while own iron ore production reached 63.9
million tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT),
Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona,
Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
About Gestamp
Gestamp is a world leader in the design, development and manufacture of metal
components and assemblies for the main vehicle manufacturers. It specializes in
the development of products with an innovative design in order to produce
lighter and safer vehicles, which thus offer improved energy consumption and
reduced environmental impact. Gestamp products cover the areas of Body in White,
Chassis and Mechanisms.
Gestamp is present in 20 countries with 95 manufacturing plants, 12 R&D centers
and a workforce of over 33,000 employees worldwide. In 2014, turnover was ?6,256
million.
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|Contact information ArcelorMittal Investor Relations |
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|Europe +35247923198 |
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|Contact information ArcelorMittal Corporate |
|Communications |
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|E-mail: press(at)arcelormittal.com|
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|Phone: +442076297988 |
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|ArcelorMittal Corporate Communications |
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|Sophie Evans +442032142882 |
|Paul Weigh +442032142419 |
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|Laura Nutt +442075431125 |
|Isabelle Cornelis +442032142453 |
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| Contact information Gestamp Corporate Communications |
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| E-mail: press(at)gestamp.com |
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| Phone: +34 91 379 1999 |
| www.gestamp.com |
| (at)gestamp |
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| Gestamp Corporate Communications |
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| Miguel López-Quesada +34 91 379 1999 |
| Arantxa Alonso +34 91 379 1999 |
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| Gonzalo Prieto +34 91 379 1999 |
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ArcelorMittal sells 35% stake in Gestamp:
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Datum: 05.02.2016 - 07:02 Uhr
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News-ID 448891
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