Cleveland-Cliffs inks deal to buy ArcelorMittal USA
Cleveland-Cliffs Inc. has signed an agreement with ArcelorMittal S.A., Luxembourg, under which Cliffs will acquire substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries for about $1.4 billion. Upon closing the transaction, Cleveland-Cliffs will be the largest flat-rolled steel producer in North America, with combined shipments of 17 million tons in 2019. The company will also be the largest iron ore pellet producer in North America, with 28 million long tons of annual capacity.
Schmolz + Bickenbach Group becomes Swiss Steel Group
The Schmolz + Bickenbach Group, maker of carbon, stainless and tool steel long products, has been renamed Swiss Steel Group. The rebranding is partly for strategic and partly for practical reasons: The family of the founders are no longer shareholders, so the tradition of naming the company for the founders has come to an end.
Behringer acquires Vernet-Behringer
Saw machine builder Behringer GmbH purchased 100 percent of the shares of Vernet-Behringer (VB). The integration of VB into the Behringer Group is part of the long-term relationship between the two companies.
Lerman Enterprises buys tubing manufacturer
Lerman Enterprises has purchased Welded Tubes Inc. (WTI), Orwell, Ohio. The acquisition will be folded into the Lock Joint Tube (LJT) business. LJT manufactures mechanical and structural grade steel tubing in four plants located in Indiana, Texas and Tennessee. Welded Tubes produces a high volume of small-diameter, tight tolerance tubing consumed mostly by automotive customers. Together, WTI and Lock Joint Tube will have a larger size range, customer base and knowledge of tube production and processing. Lerman Enterprises’ Steel Warehouse Inc., based in South Bend, Indiana, will source and process the steel, creating a value-added customer-service synergy between the three companies.
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