ArcelorMittal increases stake in Michigan auto parts supplier

 The world's largest steelmaker will raise its stake in parts supplier Noble International to just under 50%.

ArcelorMittal says it provided Troy-based Noble with a 5-year, $50-million loan to help the company reduce its North American debt and to support its operations.

Noble CEO Thomas Saeli says the cash injection will help the company put problems with debt conditions behind it.

Noble is the world's largest producer of laser-welded steel products. ArcelorMittal is its main customer and supplier as well as its biggest shareholder.