Steel giant ArcelorMittal today said it has signed an agreement to acquire US-based Koppers Monessen Coke Plant from Koppers Inc for $160 million.
Located in Monessen, Pennsylvania, Koppers Monessen Coke Plant produced 3.2 lakh tonnes of metallurgical coke in 2007, a statement from ArcelorMittal said.
The coke plant at Monessen was built in 1941-1942 by Pittsburgh Steel Company. At present, the facility consists of two coke batteries housing 56 coke ovens, which have an annual production capacity of 3.2 tonnes of metallurgical coke, the global steel player said.
Commenting on the transaction, which is subject to receipt of relevant regulatory approvals, ArcelorMittal Group Management Board Member Sudhir Maheshwari said, "This acquisition is an important step towards increasing our upstream self sufficiency in metallurgical coke production during a time when metallurgical coke demand on a global scale remains strong."
Maheshwari said ArcelorMittal currently purchases all of the coke produced by the Koppers Monessen Coke Plant.
