Arcelor has signed with Bagoeta SL, majority shareholder of CONDESA, an agreement for the sale of the tubes business of Arcelor Group. The completion of the transaction is subject to the approval of the relevant anti-trust authorities and to the finalisation of the agreements with the credit institutions for the financing of the deal. – Arcelor’s Board of Directors have voted unanimously to ask Joseph Kinsch to stay on in his role as Chairman beyond the shareholders’ meeting due to take place on 30 April 2004. Mr Kinsch agreed to remain in this role and proposed that the Board extend Edmond Pachura’s term as Director. This proposal was accepted by the Board of Directors.
