Type | Société Anonyme (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT) |
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Industry | Steel |
Founded | 2006 |
Headquarters | Avenue de la Liberté, Luxembourg, Luxembourg |
Area served | Worldwide |
Key people | Lakshmi Mittal (Chairman and CEO) Aditya Mittal (CFO) |
Products | Steel, flat steel products, long steel products, stainless steel, wire products, plates |
Revenue | US$65.11 billion (2009)[1] |
Operating income | ▼ (US$1.678 billion) (2009)[1] |
Profit | US$118 million (2009)[1] |
Total assets | US$127.7 billion (2009)[1] |
Total equity | US$65.40 billion (2009)[1] |
Employees | 281,700 (2009)[1] |
Website | www.arcelormittal.com |
ArcelorMittal is a global steel company headquartered in Avenue de la Liberté, Luxembourg, Luxembourg. It is the largest steel producing company in the world[2] and is the market leader in steel for use in automotive, construction, household appliances and packaging. It holds sizeable captive supplies of raw materials and operates extensive distribution networks. The company was formed in 2006 by the merger of Arcelor and Mittal Steel. It ranks 99th on the 2010 Fortune Global 500 list.
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History
Its industrial presence in Europe, Asia, Africa and the Americas gives the Group exposure to all the key steel markets, from emerging to mature. ArcelorMittal is looking to develop positions in the high-growth Indian and Chinese 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.[3]
As of 4 November 2008, the market capitalisation of ArcelorMittal was $35.37B.[4]
In December, 2008, ArcelorMittal announced several plant closings, including the former Bethlehem Steel plant in Lackawanna, NY and LTV Steel in Hennepin, IL.
On 30 June 2010, the European Commission fined 17 steel producers a total of €518m today for running a price-fixing cartel, with ArcelorMittal hit the hardest.
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 and Peter Kukielski.
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.
Head office
Headquarters in Luxembourg City |
The head office of ArcelorMittal is in Luxembourg City, and 600 employees work there. The building was the head office of Arbed before that company merged with Aceralia and Usinor.[5]
See also
References
- ^ a b c d e f "Annual Report 2009". ArcelorMittal. http://www.arcelormittal.com/rls/data/upl/638-17-0-ArcelorMittalAnnualReport2009.pdf. Retrieved 2010-03-12.
- ^ "Fortune Global 500 2010: The World's Biggest Companies - ArcelorMittal - MT". Fortune. http://money.cnn.com/magazines/fortune/global500/2010/snapshots/11208.html. Retrieved 27 July 2010.
- ^ "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.
- ^ "Arcelor-Mittal : un siège au Luxembourg." Le Journal du Net. Retrieved on 7 July 2010.
External links
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