Arcelor and Schmolz+Bickenbach Consolidate the Stainless Long Business in Europe.LUXEMBOURG -- The Arcelor Group (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. ), has signed an agreement for the sale of 100% of shares of its stainless long products subsidiary Ugitech S.A. to the Schmolz+Bickenbach Group. Finalisation of this transaction is solely subject to the approval of the relevant competition authorities. The creation of this new unit allows combining all the advantages of two performing and complementary companies in terms of geographical location, range of products and distribution networks. In choosing Schmolz+Bickenbach as strategic partner for Ugitech, Arcelor creates an optimal environment for the future development of its subsidiary. In fact, the plan announced in 2003 for the improvement of its performance allows Ugitech today to take full advantage of the growth opportunities and synergies within the Schmolz+Bickenbach Group, which holds from now on a leadership position in Europe and worldwide in stainless long products. About Ugitech Ugitech is a company within Arcelor's Stainless Steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. activity. Specialized in stainless steel and nickel alloy Noun 1. nickel alloy - an alloy whose main constituent is nickel nickel-base alloy alloy, metal - a mixture containing two or more metallic elements or metallic and nonmetallic elements usually fused together or dissolving into each other when molten; "brass long products, (semis, bars, wire rod a metal rod from which wire is formed by drawing. See also: Wire and drawn wires) the business generated in 2005 sales in the range of 630 million euros and a volume of approximately 200,000 tons. Its main markets are the process, automotive, construction and food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. industries in which Ugitech has a leadership position. Ugitech is headquartered in Ugine (Savoie, France). The company employs more than 2000 staff, mainly in Europe (France, Germany, Italy ...) and in the USA. Website: http://www.ugitech.com About Schmolz+Bickenbach Schmolz+Bickenbach Group is a fast growing European manufacturer, processor and distributor of special steel and stainless bars and rods with the highest level of service to customers. As of December 31, 2005, it represents more than 8,400 employees at more than 50 locations in Western and Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. , North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , Australia and Asia. Schmolz+Bickenbach operates a large sale network present in more than 25 countries with sales of more than 3 billion euros. The company is headquartered in Dusseldorf, Germany Website: http://www.schmolz-bickenbach.com About Arcelor Arcelor is the number one steel company in the world with a turnover of 32.6 billion euros in 2005. The company holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company - number one steel producer in Europe and Latin America - ambitions to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. In 2006, Arcelor employs 110,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labour relations and social responsibility. Website: http://press.arcelor.com This combination contributes to the necessary concentration of this industry sector. At the same time, it marks the successful refocusing, carried out between 2002 and 2006, of Arcelor's stainless steel business unit on flat stainless products in Europe and Brazil. |
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