Huta Lucchini bought by Arcelor Group

The investor is only awaiting final permission from the regulatory authorities, as the sale contract with Luigi Lucchini has already been signed. The value of the transaction was not revealed. Following the acquisition, Arcelor said it plans to commence constructing a rolling mill, which will also be located in Warsaw. The sum to be invested amounts to at least EUR 30 million. "We plan that the first products will roll out of the mill in the beginning of 2007. The plant will manufacture mainly steel bars for the construction sector," said Dolle. Besides the investments in Poland, the Arcelor Group also said it plans to expand on the Ukrainian market, where company representatives have already held talks concerning taking part in the privatization of the Ukrainian steel sector. (Puls Biznesu, pp. 1, 4) A.K.