Netherlands-based Mittal Steel Co. has received approval from its shareholders as well as those of International Steel Group Inc. (ISG) to purchase ISG and create the world’s largest steel company.
ISG, based in Richfield, Ohio, has been acquired for stock and cash worth about $4.5 billion, according to Mittal Steel Co. officials. Shareholders in both the United States and the Netherlands have approved the deal, according to published reports.
Mittal announced plans in late 2004 to take over ISG and merge it with two companies owned by the family of Indian-born tycoon Lakshmi Mittal: Ispat International NV and LNM Holdings NV.
The newly combined Mittal Steel Company, based in Rotterdam, is expected to have sales of more than $30 billion this year and will employ some 165,000 people. It is majority owned by the Mittal family.
Latest from Recycling Today
- Interchange 360 to operate alternative collection program under Washington’s RRA
- Waste Pro files brief supporting pause of FMCSA CDL eligibility rule
- Kuraray America receives APR design recognition for EVOH barrier resin
- Tire Industry Project publishes end-of-life tire management guide
- Des Moines project utilizes recycled wind turbine blades
- Charter Next Generation joins US Flexible Film Initiative
- Vecoplan to present modular solutions at IFAT 2026
- Terex Ecotec appoints Bradley Equipment as Texas distributor
