ArcelorMittal acquires steelcord wire company in China
16 Oct 2007
Mumbai: ArcelorMittal, the world''s largest steelmaker, has acquired a 90 per cent stake in privately-owned Chinese steelcord wire manufacturer Rongcheng Chengshan Steelcord, for $26.6 million.
The
acquisition as an important step in its bid to develop its presence in the country,
ArcelorMittal said in a statement.