Arcelor has signed an agreement with Alfonso Gallardo Group for the sale of Corrugados Azpeitia, Corrugados Getafe and Corrugados Lasao, three rebar and mesh plants located in Spain, to Alfonso Gallardo Group.
Corrugados Azpeitia and Corrugados Getafe each comprise a steel shop and rolling mills, while Corrugados Lasao has facilities for the production of welded mesh. The three companies' shipments totaled 1.7 million tons last year. They supply steel products for the construction sector, serving mainly the Spanish market.
Arcelor also announced that it is taking steps to reduce its steel production in Europe.
The company reducing its steel production in Europe to compensate for an overall slowdown in steel demand. The company reported that for demand for carbon steel in the European Union decreased by 14 percent due to the high level of inventories, imports and the softening of real consumption at customer base.
The company will cut European carbon steel output by 1 million metric tons over the first half of this year.
The steps the company is taking include the following: idling a blast furnace in Stahlwerke Bremen; lower output at the hot phase in Cockerill Sambre; a rreduction production of hot rolled coils at the ACB plant in Viscaya; and an estended halt of a blast furnace at its EKO Stahl operation.