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Arcelor Mittal Considers Acquisition of Ukrainian Metal Wire Producer

Arcelor Mittal Considers Acquisition of Ukrainian Metal Wire Producer

20 October 2008

Arcelor Mittal’s PR representative, Frank Pannir, disclosed this yesterday at the conference Metal Forum Ukraine. He said a decision would be made in 2007. Andriy Gostik: Earlier this year, Russia’s Severstal-Metiz completed the acquisition of Ukraine’s leading metal wire producer, Dniprometiz, which uses rolled wire from Mittal Steel Kryvy Rig (KSTL: BUY) as a key feedstock. If Arcelor Mittal decides to purchase one of Ukraine’s stand-alone wire producers, it is likely to integrate it into Mittal Steel Kryvy Rig’s business, as most Ukrainian wire producers source raw material from KSTL. This would add one more downstream unit to KSTL’s production chain and increase KSTL’s value. Non-integrated metal wire companies are facing tough competition and some of them are likely to consider selling out.

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