February 23, 2017 / 1:28 PM / a year ago

ArcelorMittal, Votorantim combine long steel operations in Brazil

SAO PAULO, Feb 23 (Reuters) - ArcelorMittal Brasil SA and Votorantim SA on Thursday said they will merge their long steel operations in Brazil, creating a company with combined capacity to produce 5.4 million tonnes of rolled steel per year.

Under the deal, Votorantim Siderurgia will become a subsidiary of ArcelorMittal Brasil SA and will hold a minority stake in the business, the companies said in a joint statement. (Reporting by Gabriela Mello and Marcelo Teixeira; Editing by Chizu Nomiyama)

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