Arcelor Mittal
transforming tomorrow
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|
| Société Anonyme | |
| Traded as |
Euronext: MT : MT BMAD: MTS : MT |
| Industry | Steel |
| Predecessor |
Arcelor Mittal Steel Company |
| Founded | 2006 |
| Headquarters | 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg |
|
Area served
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Worldwide |
|
Key people
|
Lakshmi Mittal (Chairman and CEO) Aditya Mittal (CFO) |
| Products | Finished, semi-finished, long and flat products, such as slabs, hot-rolled coil, cold-rolled coil, coated steel products, tinplate and heavy plate, as well as billets, blooms, rebars, wire rod, sections, rails, sheet piles and drawn wire |
| Revenue |
 US$63.57 billion (2015) |
|
US$-4.16 billion (2015) |
|
| Profit |
US$-7.94 billion (2015) |
| Total assets |
US$76.84 billion (2015) |
| Total equity |
US$25.27 billion (2015) |
|
Number of employees
|
219,000 (2015) |
| Website | corporate |
ArcelorMittal S.A. (French pronunciation: [aʁsəlɔʁmiˈtal]) is a Luxembourg-based multinational steel manufacturing corporation headquartered in Boulevard d’Avranches, Luxembourg. It was formed in 2006 from the takeover and merger of Arcelor by Mittal Steel. ArcelorMittal is the world's largest steel producer, with an annual crude steel production of 98.1 million tons as of 2014[update]. It is ranked 108th in the 2016 Fortune Global 500 ranking of the world's biggest corporations.
ArcelorMittal was created by the takeover of Western European steel maker Arcelor (Spain, France, and Luxembourg) by Indian-owned multinational steel maker Mittal Steel in 2006, at a cost of €40.37 per share, approximately $33 billion total. Mittal Steel launched a hostile takeover bid which replaced a previous planned merger between Arcelor and Severstal, which had lacked sufficient shareholder approval. The resulting merged business was named ArcelorMittal and is headquartered in Luxembourg.
The resulting firm produced approximately 10% of the world's steel, and was by far the world's largest steel company. Total revenues in 2007 were $105 billion. In October 2008, the market capitalisation of ArcelorMittal was over $30 billion.
In December 2008, ArcelorMittal announced several plant closings, including the Bethlehem Steel plant in Lackawanna, New York, and LTV Steel in Hennepin, Illinois. After purchase of Kryvorizhstal, Ukraine's largest steel producer, employment was scaled back from 57,000 employees to 30,000.
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