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February 20, 2001 | From Associated Press
Three European steelmakers announced plans Monday to merge into the world's largest with production of 46 million tons per year. France's Usinor, Luxembourg's Arbed and the Spanish Aceralia Corporacion Siderurgica said the merger would be completed by fall. The new group, to be set up in Luxembourg, would make an offer for the shares of each of the firms. Usinor is to hold 56.5% of the new group, Arbed would hold 23.4% and Aceralia would hold 20.1%.
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BUSINESS
February 20, 2001 | From Associated Press
Three European steelmakers announced plans Monday to merge into the world's largest with production of 46 million tons per year. France's Usinor, Luxembourg's Arbed and the Spanish Aceralia Corporacion Siderurgica said the merger would be completed by fall. The new group, to be set up in Luxembourg, would make an offer for the shares of each of the firms. Usinor is to hold 56.5% of the new group, Arbed would hold 23.4% and Aceralia would hold 20.1%.
BUSINESS
June 1, 1995 | Times Staff and Wire Reports
France Launches Sale of Steelmaker: The country's new conservative government, unveiling its first privatization since taking office last month, said it plans to sell Europe's largest steelmaker, Usinor-Sacilor, before summer. The announcement coincided with fierce protests from public-sector unions angry over plans to press ahead--and if possible step up--the previous government's privatization effort. Industry analysts say Usinor is worth between $4.1 billion and $4.5 billion.
BUSINESS
March 26, 1990 | From Times Wire Services
A French steelmaker has expressed an interest in buying a minority stake in LTV Corp.'s steel unit, LTV announced today. LTV said that the offer from Usinor Sacilor of France, Europe's largest steelmaker, was unsolicited and that no negotiations have been held or are scheduled. LTV is in Chapter 11 bankruptcy reorganization. "We will explore at the proper time and under the proper circumstances a business relationship between LTV Steel and Usinor Sacilor," said Raymond A.
BUSINESS
January 29, 1993 | From Times Wire Services
Already embroiled with Washington in a trade fight over farm subsidies, France threatened the United States on Thursday with a trade war over a U.S. move to impose punitive tariffs on foreign steel. The French government accused President Clinton's new Administration of unfair trade practices, charging that Washington is trying to protect U.S. companies from competition.
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