ArcelorMittal

ArcelorMittal Long Products Canada in its joint venture with Triple M Metal

Client

ArcelorMittal

Value

-

Service

Mergers and Acquisitions

Date Closed

Lead Office

Montréal

 

On October 13, 2020, ArcelorMittal Long Products Canada and Triple M Metal announced their joint venture, Integrated Metal Recycling Inc. The alliance will combine many recycling activities of the partners in Quebec, including four of ArcelorMittal’s Legault Metal sites and Triple M’s Metrobec sites. The joint venture will provide recyclers with increased access to outlets for scrap metal and provide more opportunities to sell scrap metal on an ongoing basis. Integrated Metal Recycling will also continue to process and add value to nonferrous metals as part of its service offering.

ArcelorMittal Long Products Canada is a leading global steel and mining company specializing in producing safe and sustainable steel. The company has over 2 million tonnes of steel capacity and creates economic spin offs of over $1 billion per year.

Triple M Metal is one of North America’s largest privately owned ferrous and nonferrous metal recycling companies focused on its 27 locations across Canada, the United States and Mexico along with its commercial interests in Europe.

Osler, Hoskin & Harcourt LLP advised ArcelorMittal with a team led by Antoine Stebenne (Taxation) and Hugo-Pierre Gagnon (Corporate M&A) and consisting of Sophie Amyot, Chloe Cavaliere, Samuel Cantin (Corporate), Alan Hutchison (M&A/Mining), Caroline Stephens (Real Estate), Jean-Philippe Dionne (Taxation), and Julien Ranger (Employment & Labour).