Joint venture of Delaco Steel and ArcelorMittal to operate two laser welding plants

Dearborn, Mich. – Delaco Steel Corp. has formed a joint venture with a subsidiary of Luxemberg-based steelmaker ArcelorMittal S.A to operate two laser welding plants that primarily serve the automotive industry, according to press reports.

The joint venture will be called Delaco AMTB and will be a Minority Business Enterprise. The laser welding plants are in Dearborn and Tonawanda, N.Y. Delaco Steel is part of the Dearborn-based Diez Group, owned by Gerald Diez.

ArcelorMittal's subsidiary ArcelorMittal Tailored Blanks Americas Corp. will own 49 percent of Delaco AMTB and Delaco will retain the other 51 percent. Terms of the deal were not disclosed.