ArcelorMittal, Gerdau to sell U.S. joint venture to Nucor
BRUSSELS, Sept 15 (Reuters) - ArcelorMittal, the world's largest steel maker, and Brazil's Gerdau on Monday announced they would sell their 50-50 joint venture Gallatin Steel to U.S. producer Nucor for $770 million.
The Gallatin plant, located in Kentucky, produces flat rolled steel with melting scrap and iron from various sources and has an annual capacity of 1.8 million tonnes.
ArcelorMittal said it expected the deal to close by the end of the year. (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)
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