ArcelorMittal announced on June 18, 2025, the completion of its acquisition of Nippon Steel Corporation's (NSC) 50% equity stake in AM/NS Calvert, with the facility now renamed ArcelorMittal Calvert. This follows the definitive Equity Purchase Agreement signed on October 11, 2024.
The acquisition, for which ArcelorMittal paid $1 consideration and received approximately $0.9 billion in cash and loan forgiveness from NSC, is expected to result in an exceptional gain of approximately $1.5 billion in ArcelorMittal's Q2 2025 results. The facility has a flat rolled steel capacity of 5.3 million metric tonnes annually.
A new state-of-the-art steelmaking facility with 1.5 million metric tonnes capacity for low CO2 steel, capable of producing exposed automotive grades, completed commissioning and first heat this month. ArcelorMittal also announced its intention in February 2025 to invest $1.2 billion to construct a new 150,000 metric tonnes non-grain-oriented electrical steel (NOES) manufacturing facility at Calvert, with first production expected in 2027.
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