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| Type | Public (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT) |
|---|---|
| Founded | 2006 |
| Headquarters | Avenue de la Liberté, Luxembourg, Luxembourg |
| Area served | Worldwide |
| Key people | Lakshmi Mittal (Chairman of the board and CEO) Aditya Mittal (CFO) |
| Industry | Steel |
| Products | Steel, flat steel products, long steel products, stainless steel, wire solutions, plates |
| Revenue | US $124.9 billion (2008)[1] |
| Operating income | ▲ US $12.24 billion (2008)[1] |
| Profit | ▲ US $9.399 billion (2008)[1] |
| Total assets | US $133.1 billion (2008)[1] |
| Total equity | US $59.23 billion (2008)[1] |
| Employees | 315,900 (2008)[1] |
| Website | www.arcelormittal.com |
ArcelorMittal (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT) is the largest steel company in the world, with 315,867 employees in more than 60 countries.[2][3] The company was formed in 2006 by the merger of Arcelor and Mittal Steel. It ranks 28th on the 2009 Fortune Global 500 list.[4] The company is headquartered in Luxembourg City, the former seat of Arcelor.[5]
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Business
ArcelorMittal is the world's largest steel company and is the market leader in automotive, construction, household appliances and packaging. It holds sizeable captive supplies of raw materials and operates extensive distribution networks.
Its industrial presence in Europe, Asia, Africa and America gives the Group exposure to all the key steel markets, from emerging to mature. ArcelorMittal is looking to develop positions in the high-growth Chinese and Indian markets.
ArcelorMittal key financials for 2007 show revenues of US$105.2 billion, with a crude steel production of 116 million tonnes, representing around 10% of world steel output.
ArcelorMittal is listed on the stock exchanges of New York, Amsterdam, Paris, Brussels, Luxembourg and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia.[6]
As of 4 November 2008, the market capitalisation of ArcelorMittal was $35.37B.[7]
In December, 2008, ArcelorMittal announced several plant closings, including the former Bethlehem Steel plant in Lackawanna, NY and LTV Steel in Hennepin, IL.
Organizational structure
Lakshmi Mittal (owner of Mittal Steel), a non-resident Indian, is the Chairman and CEO.
The composition of ArcelorMittal's Group Management Board is as follows: Lakshmi N. Mittal (Chairman and CEO), Aditya Mittal (CFO), Michel Wurth, Gonzalo Urquijo, Sudhir Maheshwari, Christophe Cornier, Davinder Chugh.
ArcelorMittal's 11-member Board of Directors is responsible for the overall supervision of the company. The composition of the Board of Directors reflects the principles agreed in the memorandum of understanding dated 25 June 2006.
Images
 Headquarters in Luxembourg City |
 Headquarters in Luxembourg City |
 Headquarters in Luxembourg City |
References
- ^ a b c d e f "Annual Report 2008". ArcelorMittal. http://www.arcelormittal.com/rls/data/upl/638-7-0-ArcelorMittal_AnnualReport_2008.pdf. Retrieved 2009-03-28.
- ^ "ArcelorMittal sees profit up 40%". BBC News. 2007-05-16. http://news.bbc.co.uk/2/hi/business/6660649.stm.
- ^ "World Steel in Figures". International Iron and Steel Institute. 2006. http://www.worldsteel.org/pictures/newsfiles/WSIF06.pdf.
- ^ "CNN Money: Global 500, Our annual ranking of the world's largest corporations (money.cnn.com)". http://money.cnn.com/magazines/fortune/global500/2009/. Retrieved 2008-09-30.
- ^ "Boston.com : Luxembourg drops law change in Arcelor bid battle". http://www.boston.com/news/world/europe/articles/2006/04/06/luxembourg_drops_law_change_in_arcelor_bid_battle/. Retrieved 2008-09-30.
- ^ "ArcelorMittal: Products & Services, Steel Services Centres (www.arcelormittal.com)". http://www.arcelormittal.com/index.php?lang=en&page=130&tb0=9. Retrieved 2008-09-30.
- ^ "Yahoo Finance: ArcelorMittal, (finance.yahoo.com)". http://finance.yahoo.com/q?s=MT. Retrieved 2008-10-24.
External links
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Wikinews has related news: Arcelor declares merger with Mittal Steel |
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