ArcelorMittal Distribution Solutions Italia (AMDSI) and Italy-based Coil Lamiere Nastri Group (CLN) have officially launched a joint venture between the two companies. The jv will be named ArcelorMittal CLN Distribuzione Italia, CLN tells Kallanish.

According to CLN, AMDSI will merge the assets and activities of both companies in the flat carbon steel service centre sector in Italy. The new joint venture will offer a wide range of flat carbon steel products, such as hot rolled, cold rolled and coated steels, from its 15 sites throughout Italy. It is intended to service market sectors including automotive, household appliances, general industry and construction, Kallanish understands.

ArcelorMittal has been a CLN supplier since 1974 but in 1989 the Luxembourg-headquartered steelmaker acquired 35% of the Italian company.

“Both companies will combine their offerings to create a new business focused on providing added value services for our Italian customers” says Alain Le Grix de la Salle, head of business coordination, ArcelorMittal Europe. The acquisition follows an approval granted by the European merger authorities last month (see Kallanish 23 March).

CLN has a presence in 16 countries with more than 50 industrial facilities and a workforce of 8,600. In 2013, the group registered a turnover of €1.5 billion ($1.6 billion).