Black Diamond Capital Management to acquire ArcelorMittal facilities

Black Diamond Capital Management LLC, Greenwich, Conn., has announced that its affiliated investment vehicle has signed a definitive agreement with ArcelorMittal to acquire ArcelorMittal's LaPlace, La.; Harriman, Tenn.; and Vinton, Texas, steelmaking and finishing operations focused on the production and sale of long carbon steel products in North America.

The LaPlace operations include the main plant, an additional rolling mill in Harriman, Tenn., and three stocking depots in Tulsa, Okla.; Chicago; and Pittsburgh. The LaPlace and Harriman facilities produce light structural shapes and merchant bar quality products. The Vinton facility produces rebar for the construction industry and grinding media for the mining industry.