In accordance with the definitive Equity Purchase Agreement (the EPA) signed between ArcelorMittal (the Company) and Nippon Steel Corporation (NSC), the Company confirms that it has completed the acquisition (the transaction) of NSC’s 50% equity stake in AM/NS Calvert, with ArcelorMittal already holding the balance.
The facility, now renamed ArcelorMittal Calvert, was originally acquired by ArcelorMittal and NSC in 2014 from ThyssenKrupp for total consideration of USD 1.55 bn. The operation was originally built at a cost of approximately USD 5bn. It commenced operations in 2010 and has a flat rolled steel capacity of 5.3 million metric tonnes, annually.
The new steelmaking facility, integrated with ArcelorMittal’s HBI facility in Texas, will enable Calvert to supply automotive customers with lower CO2 embodied steel, melted and poured in the United States.
The new facility will be capable of producing up to 150,000 metric tonnes of NOES annually, in support of automotive and mobility, renewable electricity production and other industrial and commercial markets. The project can strengthen U.S. manufacturing competitiveness and reduce U.S. dependency on electrical steel imports through the expansion of domestic NOES production. First NOES production is expected in 2027.