ArcelorMittal signed a deal to sell its facilities in Bosnia and Herzegovina to the Bosnian Pavgord Group on June 20 for an undisclosed amount, the steel company said.
The sold enterprises include the ArcelorMittal Zenica steel mill and the ArcelorMittal Prijedor iron ore plant. mining business.
According to the agreements, ArcelorMittal shares in Zenica and Prijedor will be sold to Pavgord Group, and the jobs of all employees will be transferred to the new owner.
The transaction is expected to be completed in the third quarter of 2025, subject to control over the completion of the merger and the fulfillment of all prerequisites.
ArcelorMittal Zenica is a rolled steel manufacturer operating in blast furnaces with an annual capacity of almost 1 million tons.
In Northwestern Europe, domestic prices for rebar range from 615 to 635 euros per ton, which can be matched with offers from 630 to 640 euros per ton delivered. McCloskey estimates rebar prices as stable, based on published data, at 625 euros per ton for delivery to Northwestern Europe.
This week, ArcelorMittal's European segment notified the German government of its decision to indefinitely suspend its decarbonization projects in Bremen and Eisenhüttenstadt, with government funding for the projects dependent on the start of production scheduled for June.
Maria Tanatar, Deputy Director for the Production of Steel and Environmentally Friendly Materials
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