Arcelor SA signed a Memorandum of Understanding with Lucchini Group for the acquisition of Lucchini's operations in Poland as well as Lucchini's Polish scrap companies, Silscrap and Crapex.
Arcelor intends to reposition these operations in order to produce rebars and merchant bars for the construction market in Poland.
Roland Junck, Senior Executive Vice President in charge of Arcelor's Long Carbon Steel division said: "This move supports our strategic ambition to expand our operations and production capacity in Eastern Europe where growth rates in the construction sector are attractive."
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