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ArcelorMittal launches automotive venture


LONDON: ArcelorMittal on Friday said it had joined hands with the Hunan Valin Group and Hunan Valin Steel to launch an industrial and commercial automotive joint venture named Valin ArcelorMittal Automotive Steel. While Hunan would own 34 per cent in the new venture, ArcelorMittal and the Hunan Valin Group would have 33 per cent equity share each.

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