ArcelorMittal mulling to acquire majority stake in DSTC FZCO

Luxembourg, Jun 30 (UNI) ArcelorMittal, the world's biggest steelmaker, today said it plans to buy 60 per cent of the entire issued share capital of DSTC FZCO, a newly-formed company in the Dubai Free Zone.

''This is an important partnership that will spearhead our distribution network in the West Asian Area,'' ArcelorMittal Steel Solutions&Services CEO Philippe Darmayan said.

ArcelorMittal, with over 310,000 employees in more than 60 countries, is widening its offering in the West Asian area along with DSTC FZCO, .

DSTC FZCO will acquire the main business of a steel distributor in the UAE's Dubai Steel Trading Company LLC (DSTC LLC).

According to a company statement, this new acquisition is the first step towards the creation of a full-fledged distribution network in the Gulf Cooperation Council (GCC) area for the distribution of long and flat steel products such as beams, plates, hollow sections.

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