ArcelorMittal Announces Acquisition of Canadian Metals Recycler

ArcelorMittal, the world’s largest steel company, has announced that it has signed an agreement to acquire Bakermet, a scrap metal recycler based in East Ontario, Canada.

Bakermet, which specializes in all types of ferrous and nonferrous metals, processed approximately 130,000 short tons of ferrous and 40 million pounds of nonferrous metals in 2007. The plant, located near Ottawa, will secure upstream self sufficiency in shredded metal for ArcelorMittal’s Contrecoeur mill (ArcelorMittal Montreal), according to a press release from ArcelorMittal.

Jos Jacque, CEO of ArcelorMittal Long Carbon North America says, “This acquisition further strengthens our access to and ownership of key raw material supplies. Further, we are delighted that Bakermet’s existing management have committed to stay with the business and bring a wealth of experience to the ArcelorMittal group. We are excited by this opportunity and look forward to integrating the Bakermet operations into the ArcelorMittal group.”

More information is available at www.arcelormittal.com.