Major Steel Industry Shake-Up Announced Today
In a major steel industry development, Dutch steelmaker LNM Group announced today that it plans to merge its two main divisions, Ispat International NV and LNM Holdings NV, and will take over U.S.-based International Steel Group Inc. (ISG) in a deal that will make it one of the largest steel companies in the world. The combined company, which will be based in Rotterdam and called Mittal Steel Company NV, will have operations in 14 countries on four continents, generate revenue of more than $30 billion this year and employ 165,000 people. ISG was formed from the steel-making assets of some of America's best known steel companies, including LTV, Acme Steel, Bethlehem Steel and Weirton Steel.
|posted by Douglas N. Jacobson| Permalink 
