June 17 /PRNewswire-FirstCall/ — Whirlpool Corp. and Ispat Inland Inc. today announced that they have reached a confidential agreement staying the litigation involving the two companies for 45 days while securing Whirlpool’s steel supply and allowing the temporary restraining order against Ispat to be dissolved.
Ispat Inland Inc. is a subsidiary of Ispat International N.V. (NYSE: IST), one of the leading steel companies in the world, with steelmaking facilities in six countries and shipments of 15.2 million tons in 2003. Ispat Inland manufactures a broad range of semifinished and finished flat and bar steel products and is one of North America’s lowest-cost integrated steel producers. In addition to Ispat Inland in East Chicago, Ind., USA, Ispat International has major steelmaking facilities in Canada, Mexico, Trinidad, France and Germany. Ispat International is a member of the LNM Group, the world’s second- largest and most global steel group, which also operates in Algeria, Czech Republic, Indonesia, Kazakhstan, Poland, Romania and South Africa.