ArcelorMittal Brasil SA and Votorantim SA announced the signing of a definitive agreement, which will see Votorantim's long steel businesses in Brazil, Votorantim Siderurgia, become a subsidiary of ArcelorMittal Brasil. Votorantim will hold a minority stake in ArcelorMittal Brasil. Votorantim's long steel operations in Argentina (Acerbrag) and Colombia (PazdelRío) were not included in the transaction.
The combination of the businesses will result in a long product steel producer with crude steel capacity of 5.6Mta and rolling capacity of 5.4Mta.
