ArcelorMittal, the world's largest steel company, has announced its acquisition of M.T. Majdalani Y Cia. S.A., the leading stainless steel service center and distributor in Argentina. The transaction is being reviewed by the competition authorities.
M.T. Majdalani Y Cia. S.A., founded in 1941 and until now entirely owned by the Majdalani family, employs 75 people in one site located in Buenos Aires. It sold about 12.000 tonnes in 2006 with a turnover of 46 million USD. It specializes in flat stainless steel products with cut to length and slitting facility. Its sales of sheets and tubes create a highly complementary product mix and activity which is aligned with ArcelorMittal's stainless steel activities in South America.
Highly oriented towards its end users, M.T. Majdalani y Cia. S.A. is an efficient company with strongly motivated personnel which integrates perfectly within ArcelorMittal's growth plan.