Arcelor has announced the completion of the sale of substantially all the assets of its wholly owned subsidiary J&L Specialty Steel LLC to a division of ATI and Allegheny Ludlum Corporation on 1 June, in accordance with the terms of an agreement signed between the companies on 17 February 2004. Jean-Yves Gilet, Senior Executive Vice President of the Arcelor group, in charge of the stainless steels activities and chairman of J&L said: “Arcelor is satisfied with the outcome of a transaction that is in the best interest of all parties involved.”
