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Arcelor Mittal to Combine Laser Welding Activity with Noble International.


LUXEMBOURG & ROTTERDAM, Netherlands -- Arcelor Mittal It has been suggested that and be merged into this article or section.  (ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. :LU0140205948) (Pink Sheets:ARLOF) (Paris:LOR LOR Letter Of Reprimand (military)
LoR Lord of the Rings (J.R.R. Tolkien)
LOR Learning Object Repository
LOR Linux.Org.
) and Noble International, Ltd. (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:NOBL NOBL New Outer Blanket Layer ) ("Noble"), North America's largest producer of laser-welded steel products, have agreed to combine their laser-welded tailored blanks businesses. Arcelor Mittal is to become the largest stockholder of Noble following the closing of the transaction.

On October 27th, 2006, Noble and Arcelor S.A. signed a binding Letter of Intent for the combination of Arcelor's laser-welded tailored blank business ("TBA TBA

See: To be announced
") with Noble. Upon completion of the transaction, Arcelor Mittal would receive approximately US $300 million in a combination of cash and 9,375,000 shares of Noble common stock, and would become Noble's largest stockholder, owning approximately 40% of the issued and outstanding common shares.

TBA is a leading European manufacturer of tailored blanks. Its business includes nine plants in Europe, one in the US and a 25% joint venture in China. TBA employs about 670 people. TBA's total revenue for 2006 is expected to reach approximately e1/4 400 million (US $500 million), with EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become  of approximately e1/4 53 million (US $66 million).

Noble is North America's largest laser welder with laser-welded flat blanks and laser-welded tubular products solutions for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . The company operates 12 production facilities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Mexico and Australia, and employs more than 2,000 people. Noble's estimated pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts.

The phrase pro forma
 2006 revenue is approximately $600 million, with EBITDA of $56 million. Based on current expectations, combining Noble and TBA, the company would have estimated pro forma, post-transaction revenue and EBITDA for 2006 of approximately $1.1 billion and $122 million, respectively. On October 12, 2006, Noble acquired Pullman Industries, Inc., a leading manufacturer of tubular and shaped structures using roll forming Roll-forming or Rollforming is a continuous bending operation in which a long strip of metal (typically coiled steel) is passed through consecutive sets of rolls, or stands  and other processes, primarily for the automotive industry.

Closing of the transaction is expected in March 2007, following satisfactory completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  by both parties, Noble's financing, and receipt of all required authorizations, including approval by Noble's stockholders and antitrust clearance.

Michel Wurth, Member of the Arcelor Mittal Group Management Board said: "This move further strengthens our position with the global automotive industry. Noble will leverage TBA's strong position in the European market and offer additional benefits for our global automotive customers. We look forward to working with them as privileged partner"

Forward-Looking Statements

This document may contain forward-looking information and statements about Mittal Steel Company Mittal Steel Company N.V. (Euronext: MT, NYSE: MT) was the world's largest steel producer by volume, and also the largest in turnover. Company is now part of Arcelor Mittal.

CEO Lakshmi Mittal's family owned 88% of the company.
 N.V., Arcelor S.A. and/or their combined businesses after completion of their planned merger (collectively, "Arcelor Mittal"). These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "target" or similar expressions. Although Arcelor Mittal's management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Arcelor Mittal's securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of Arcelor Mittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, those discussed or identified in the filings with the Netherlands Authority for the Financial Markets and the SEC made or to be made by Mittal Steel, including (in the latter case) on Form 20-F. Arcelor Mittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.

About Arcelor Mittal

Arcelor Mittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company, which will be incorporated in 2007 following the successful tender offer, brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.

Arcelor Mittal is the leader in all major global 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. An industrial presence in 27 European, Asian, African and American countries List of American countries

Nations:
  •  Antigua and Barbuda
  •  Bahamas
 exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.

Arcelor Mittal key pro forma financials for the first six months of 2006 show combined revenues of e1/443,281 billion, with approximate production capacity of 130 million tons a year, representing around 10 per cent of world steel output. The company respects the highest standards in corporate social responsibility and intends to periodically publish significant sustainable development key performance indicators Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organization. KPIs are used in Business Intelligence to assess the present state of the business and to prescribe a course of action.  to live up to this ambition.

About Noble International

Noble International, Ltd. is a leading supplier of automotive parts, component assemblies and value-added services to the automotive industry. As an automotive supplier, Noble provides design, engineering, manufacturing, complete program management and other services to the automotive market. Noble delivers integrated component solutions, technological leadership and product innovation to original equipment manufacturers (OEMs) and Tier I automotive parts suppliers thereby helping its customers increase their productivity while controlling costs.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Oct 27, 2006
Words:864
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