The South-African companies HIGHVELD STEEL, subsidiary of Angloamerican, SAMANCOR LIMITED, subsidiary of BHP Billiton and the State Agency IDC, have subscribed the capital increase of ACERINOX, S.A. of 5,800,000 shares at € 40 per share (232 million €). They are holding an 8.8% of ACERINOX, S.A., and during the next General Shareholders’ Meeting, it will propose the approval of the appointment of a new Director to represent them.
On the other hand, ACERINOX, S.A. has acquired to the aforementioned companies the 64% of COLUMBUS STAINLESS PTY. LIMITED, South-African company to which has been transferred the assets related to the production of stainless steel flat products of the old Joint Venture Columbus, by 232 million €.
The Acerinox Group, with this operation, has became the third worldwide producer of stainless steel with a production capacity of 2.5 million tons.