ArcelorMittal today announces that it has received anti-trust approval from the European Commission with respect to the formation of a joint venture (JV), STEELCAME, with the Cellino Group.

The formation of STEELCAME, in which ArcelorMittal will hold a 35 per cent shareholding, with the Cellino Group holding the remaining 65 per cent, concludes ArcelorMittal’s search for a strategic partner for its SoluStil business to strengthen the competitiveness of the business, which has been under pressure in recent years due to the highly challenging market in which it operates.

STEELCAME’s assets will consist of four former SoluStil sites in the Rhône-Alpes region, namely La Boisse, Trévoux, Arnas, Montélier, together with Stalobrex, a Polish steel processing business owned by ArcelorMittal. The Cellino Group will contribute two assets to the JV, the Italian company Intek, and the Polish company SHL, both of them active in steel processing and steel components manufacturing.

Commenting, Vijay Goyal, CEO, ArcelorMittal Distribution Solutions, said:

I am very pleased that we have been able to finalise this joint venture agreement. It concludes our search for a strategic partner for our SoluStil business and I am confident that in the Cellino Group we have found the right partner to strengthen the business and improve its operational and financial performance. This deal safeguards the future of SoluStil’s business and its workforce. Significant synergies exist between the two businesses and combining the various assets in a joint venture will facilitate knowledge exchange, investment, enhanced customer service levels and enable STEELCAME to develop its customer base.

Fabrizio Cellino, C.E.O. Cellino group, added:

I’m proud of and strongly motivated by the final creation of this JV between ArcelorMittal Distribution Solutions and the Cellino Group. Assets respectively contributed by the two partners to the newly founded STEELCAME will guarantee a wide and diverse portfolio of industrial processes and technologies that are able to satisfy customers’ needs in a multitude of industries. The established knowledge and experience, by the Cellino Group, in the field of steel components manufacturing, combined with AMDS’ high skills in steel processing, will allow STEELCAME to become a leading player in the European markets of agricultural & construction equipment, truck business and energy sector among others.
        
SoluStil was formerly a part of ArcelorMittal Europe’s Distribution Solutions business, and is a leading European sheet metalwork company. Prior to the creation of the STEELCAME JV, four sites of ArcelorMittal’s SoluStil business, in Héricourt, Châteaubriant, Ancenis, Biars-sur-Cère, were transferred into a newly formed company, Acierplus and subsequently sold to ArcelorMittal CLN Distribuzione Italia, a joint venture between ArcelorMittal and the CLN group, on 1 December 2016 after receiving clearance from the European Commission on November 22nd.

ArcelorMittal CLN Distribuzione Italia is specialized in steel distribution and solutions to industrial customers and Acierplus will benefit from its operating expertise and existing business relations with industrial partners.