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Nippon Steel & Sumitomo Metal Corp and ArcelorMittal SA to buy US auto steel plant -Nikkei

Tuesday, 26 Nov 2013 07:00pm EST 

Nippon Steel & Sumitomo Metal Corp and ArcelorMittal SA:Nippon Steel & Sumitomo Metal and ArcelorMittal will jointly acquire an automotive steel sheet plant in the U.S. from ThyssenKrupp AG, more than doubling the partners' combined production capacity in the country -Nikkei.Deal is expected to reach 200 billion yen ($1.95 billion).Nippon Steel and ArcelorMittal will split the purchase cost evenly, with specifics to be fleshed out and announced in early December.The plant has an output capacity of around 2.2 million tons a year, supplying automotive and construction steel.