Corus Agrees to Purchase Segal

Corus Staal B.V., a wholly owned subsidiary of Corus Group, has announced that it has signed an agreement to acquire the 50 percent ownership in Segal S.A. it presently does not own. Segal is a Belgian hot dipped galvanizing line from MetalInvest investment fund, its joint venture partner in Segal.

Segal produces 500,000 metric tons of hot dipped galvanized sheet a year. The company expects the transaction to be completed by the end of the year.

Rauke Henstra, Division Director Strip Products commented: “The acquisition of full ownership of Segal, a modern plant using state of the art technology, strengthens the position of Corus Strip Products IJmuiden at the high end of the market for galvanized sheet for the automotive sector, and demonstrates Corus’ continued investment in the growing market for hot dipped galvanised sheet in Europe. This investment provides a strong platform for further developing our market position in value added products.”

Corus has metal producing facilities in the United Kingdom, , the Netherlands, Germany, France, Norway and Belgium.

Corus Staal B.V. is a wholly owned subsidiary of Corus Group plc that owns the Group’s principal steelmaking assets in the Netherlands.