ArcelorMittal Acquires Full Ownership of AM/NS Calvert, Expands U.S. Steel Production Capabilities

ArcelorMittal has acquired Nippon Steel's 50% interest in AM/NS Calvert, a US-based steel finishing facility. The acquisition transforms the facility into a wholly-owned asset, enhancing its strategic manufacturing capabilities. ArcelorMittal plans to invest $1.2 billion in a new non-grain-oriented electrical steel facility at Calvert, which will produce 150,000 metric tonnes annually by 2027. The acquisition is expected to boost ArcelorMittal's earnings with an exceptional gain of $1.5 billion in Q2 2025.

ArcelorMittal has completed the acquisition of Nippon Steel Corporation's (NSC) 50% interest in AM/NS Calvert, transforming the facility into a wholly-owned asset. The acquisition enhances ArcelorMittal's strategic manufacturing capabilities in the United States. AM/NS Calvert, originally acquired by ArcelorMittal and NSC in 2014 from ThyssenKrupp for a total consideration of $1.55 billion, is one of the most advanced steel finishing facilities in North America [1].

The facility, now renamed ArcelorMittal Calvert, has a flat rolled steel capacity of 5.3 million metric tonnes annually and includes state-of-the-art hot strip mill (HSM) designed to roll advanced high strength steels (AHSS), line pipe and stainless products, a continuous pickling line (CPL), and coating and continuous annealing lines optimized for auto production [1]. Since the initial acquisition, over $2 billion in capital expenditure (capex) investments have been made to improve operational efficiency and enhance product offerings to the U.S. automotive and energy markets [1].

ArcelorMittal plans to invest an additional $1.2 billion in a new non-grain-oriented electrical steel (NOES) manufacturing facility at Calvert. This facility, expected to produce up to 150,000 metric tonnes of NOES annually by 2027, will support automotive and mobility markets, renewable electricity production, and other industrial and commercial applications [1]. The project is advancing to schedule, with all long lead equipment purchase orders issued and manufacturing of major process equipment underway [1].

The acquisition is expected to boost ArcelorMittal's earnings with an exceptional gain of approximately $1.5 billion in the second quarter of 2025, following the transaction [1]. The company's net debt is expected to increase by approximately $1.3 billion as a result of the acquisition. Sustaining capex requirements are expected to be approximately $90 million annually, with an additional $90 million capex anticipated in the second half of 2025 related to the EAF project [1].

ArcelorMittal CEO Aditya Mittal commented, "We are delighted to be further enhancing our presence in this important and attractive market with full ownership of Calvert. Since 2014, we have invested considerably and transformed the facility into a highly strategic steelmaking asset, capable of producing the highest quality, low-carbon-emissions steels, and with considerable further opportunity to grow" [1].

ArcelorMittal North America CEO John Brett added, "Our vision is to establish an ArcelorMittal manufacturing center of excellence in Calvert with safety always the first priority. We have already started the expansion of Calvert’s world-class assets with our new EAF, supported by a resilient and sustainable domestic supply chain, including HBI from our plant in Texas. Additionally, our planned NOES facility will broaden our product portfolio, supplying the growing automotive mobility demands" [1].

References:
[1] https://corporate.arcelormittal.com/media/press-releases/arcelormittal-completes-the-acquisition-of-nippon-steel-corporation-s-interest-in-am-ns-calvert/
[2] https://www.manilatimes.net/2025/06/19/tmt-newswire/globenewswire/arcelormittal-completes-the-acquisition-of-nippon-steel-corporations-interest-in-amns-calvert/2136021