ArcelorMittal has bought a 40% share in Thai company G Steel and its subsidiary GJ Steel.
G Steel produces hot-rolled coils and has an EAF-based medium slab rolling facility in Rayong, while GJ Steel has an EAF-based thin slab rolling facility in Chonburi, with a combined capacity of 2.5Mt/y. The two companies have 1400 employees.
ArcelorMittal is partnering with a group of shareholders represented by the Leeswadtrakul family, which is the founding shareholder of G Steel. It has also signed a credit facility agreement with G Steel and GJ Steel for $500M.