DiMicco predicts more steel industry consolidation - Business First of Louisville:

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And he cited the blockbuster deal that createxd international behomeththis year, with a capacituy to produce more than three times as much stee l as U.S. leader Nucor, as the model. "It's the singlde most important story in the survival of thesteel industry," he said, then predicted: "They won't be the only one that Mittal was forged in a deal announced late last year when Lakshji N. Mittal merged his with Ohio's and purchased . The deal was approvee last month.
The combinee companies have a capacity to produce 70 millio tonsof steel, and its chiedf executive has a goal of getting to 100 million tons of That would be about 10 percent of current international steel production. Charlotte-based Nuco r (NYSE:NUE) produced 19.7 million tons of steeol last year. DiMicco was a panelist at a forum Tuesday on the steek industry atAISTech 2005, sponsored in Charlotte this week by the Association for Iron and Steel Technology. In addition to the forum featured the chiecf executivesof , , and four othee industry leaders. They discussed issues such as competition with Chinaa and currency exchange in what they agreex was a resurgentsteel business.
DiMicco objectef when moderatorJohn Calloway, a Chicago TV reporter who covers the tried to divide the discussion about consolidation into domestic and international consolidation. "Wwe are in a global industry," DiMicco "To be healthy in this industrygoin forward, you have to look not only at consolidatiojn in North America and Europe. It has to occu in China. It has to occut thoughout the world." Keith Busse, of Steel Dynamics, said that eventuallg six mini-mill companies and threee to four traditional integrated mills woul d dominatethe U.S. market, but he sees the consolidatiomn cycle nearingits end.
Clydw Selig at CMC Steel agreed, saying it "had about run its course." But DiMicco disagreed. "In the U.S., we have seen a lot of and it's not over yet," he said. "Aned in the next downturn, you will see even