ArcelorMittal Announces Acquisition

ArcelorMittal has announced that it has signed an agreement to acquire Bayou Steel, a producer of structural steel products with facilities in LaPlace, La., and Harriman, Tenn., for $475 million.

The transaction is subject to regulatory approval.

Bayou Steel is an independent producer of light structural steel and bar size products. The Louisiana facility produces billets, equal leg angles, unequal leg angles, flats, channels, standard beams and wide flange beams. The Tennessee rolling mill produces merchant bar shapes, including angles, channels, flats, rounds and squares, as well as rebar.

Through its Mississippi River Recycling division, Bayou Steel operates an automobile shredder at the LaPlace facility, as well as barge wrecking and full-service scrap yards at LaPlace and its facility in Harvey, La. The company also has a deep water dock and distribution network, including four stocking locations in the United States.