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Mittal Steel's

(MT) - Get Free Report

Canadian unit agreed to acquire three companies from Stelco of Ontario.

Term weren't disclosed, but Netherlands-based Mittal said it would buy Norambar Inc. and Stelfil Ltee of Quebec and Stelwire Ltd. of Ontario from Stelco. Stelco is operating under the Companies' Creditors Arrangement Act, the Canadian equivalent of Chapter 11 bankruptcy protection.

Mittal said the acquired facilities "complement Mittal Canada's manufacturing operations and will enable Mittal to offer a wider product range to better serve its North American customers."

The deal is subject to conditions and closing is expected to take place in early 2006.

On Wednesday, Mittal rose 23 cents to $27.56.