Nippon Steel

ArcelorMittal and Nippon Steel pay $1.55 billion for ThyssenKrupp's Calvert factory

ArcelorMittal and Nippon Steel pay $1.55 billion for ThyssenKrupp's Calvert factory Steel giant ArcelorMittal and Nippon Steel & Sumimoto Metal have settled to buy a US steel plant which is owned by Germany's ThyssenKrupp for $1.55 billion.

The ThyssenKrupp plant is located in Calvert, in the southern US state of Alabama. It has a total capacity of 5.3 million tonnes of steel intended mainly for auto manufacturing and construction.