May 24, 2012
ArcelorMittal, Luxembourg, has announced the sale of its steel foundation distribution business in the NAFTA countries and the Caribbean, namely Skyline Steel and Astralloy, to Nucor Corp. for approximately $605 million. ArcelorMittal will continue to own and operate the foundation distribution businesses in the rest of the world.
Skyline Steel, a wholly owned subsidiary of ArcelorMittal, is a steel foundation distributor serving the U.S., Canada, Mexico, and the Caribbean. Nucor is the largest supplier of steel to Skyline Steel.
As part of the transaction, ArcelorMittal will continue to provide Skyline Steel with sheet piling and wear-resistant products.