London: The world's largest steel maker ArcelorMittal, headed by NRI tycoon Lakshmi Mittal, has acquired the UK-based leading steel distribution company NSD Limited, which specialises in sales of heavy sections and tubes.

NSD, with its sales of 130,000 tonne per annum and turnover of 60 million pounds, will form the basis of the drive to gain a significant market share for ArcelorMittal Distribution in the UK.

"ArcelorMittal will extend its position in the attractive UK market which, whilst being mature, is still very profitable," said Gonzalo Urquijo, member of the Group Management Board of ArcelorMittal and responsible for Steel Solutions and Services as well as Long Carbon Europe.

NSD has a long and successful history of supplying to both steel stockholders and fabricators and will form an essential link with all ArcelorMittal supply units. Gonzalo Urquijo said that "the UK has a very strong steel culture in construction. ArcelorMittal can offer the complete steel solution and aims to take the leading role in the UK market".

Source : PTI