ArcelorMittal Buys U.K. Steel Distributor

World's largest steelmaker agreed to buy NSD Ltd. for an undisclosed sum to boost its market share in Britain.

LONDON (AP) β€” ArcelorMittal, the world's largest steelmaker, said Tuesday it agreed to buy steel distributor NSD Ltd. for an undisclosed sum to boost its market share in Britain.
 
NSD, based in Scunthorpe, northern England, had revenue of euro89 million (US$130.5 million) in the last financial year.
 
''NSD has a long and successful history of supplying both steel stockholders and fabricators and will form an essential link with all ArcelorMittal supply units,'' the company said. ''ArcelorMittal can offer the complete steel solution and aims to take the leading role in the U.K. market.''
 
The company, formed by the merger of Arcelor SA and Mittal Steel Co., has been making acquisitions to boost its global presence.
 
ArcelorMittal shares dipped 3.5 percent to euro47.57 (US$69.73) in Paris.
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