ArcelorMittal

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ArcelorMittal SA

logo
legal form Société Anonyme
ISIN LU1598757687
founding 2007
Seat Luxembourg
management Lakshmi Mittal , CEO and Chairman of the Board of Directors
Number of employees 199,000
sales 56,790,000,000 US dollars
Branch steel
Website www.arcelormittal.com
As of December 31, 2016

Historic administrative center in Luxembourg City
New administrative headquarters part near the other
ArcelorMittal electric locomotive

ArcelorMittal SA is an international steel group that emerged in 2007 from the Dutch Mittal Steel Company and the Luxembourg group Arcelor .

Although the official company headquarters are in Luxembourg , ArcelorMittal is actually managed from London .

The company has around 60 plants in more than two dozen states and, after the merger in 2007, employed around 320,000 people and produced 110 million tons of steel with sales of 105 billion US dollars. The number of employees has now grown to about 210,000 employees declined. ArcelorMittal is the world's largest steel producer , its production by far exceeds that of the next largest European competitors Thyssenkrupp and Acerinox . In 2015 it produced over 97 million tons of crude steel and is one of the world's leading multinational corporations , in 2018 it was ranked 152 on the Fortune Global 500 and 31 on the Toxic 100 Index .

history

The Mittal Steel Company NV from Rotterdam , the largest steel producer in the world before the merger, surprised Arcelor SA, originally the second largest steel producer in the world, on January 27, 2006 with a takeover offer worth 18.6 billion euros. A fierce controversy ensued - the Luxembourg-based multinational Arcelor group initially tried every possible means to prevent a hostile takeover, but on June 25, 2006 accepted the competitor's offer, which had increased to around 26 billion euros. The merger of the two companies was successfully completed in the course of 2007: the two general meetings of Arcelor and Mittal on November 5, 2007 in Luxembourg officially resolved the merger of the two formerly independent companies. The new shares were first listed on November 13, 2007. In January 2016, the market value of ArcelorMittal SA was around EUR 5.7 billion, a decrease of more than 90 percent since the 2007 merger.

The economic and financial crisis from 2009 hit Arcelor-Mittal hard; In 2009 sales halved and the result was clearly negative. The competitors thyssenkrupp , Outokumpu and Acerinox , who also suffered high losses in the stainless steel sector , fared little better, but the competitors did better this year. In contrast to Arcelor-Mittal, in the first nine months of 2010 they were already able to exceed the sales level of 2009 as a whole. The weakness at Arcelor-Mittal is also evident in its falling market share. In terms of sales, the Luxembourgers fell behind thyssenkrupp and the Spanish Acerinox in third place and could also be overtaken by the Finnish Outokumpu , which is expanding its market share with an aggressive pricing policy.

With effect from September 23, 2013, Deutsche Post AG moved into the EURO STOXX 50 instead of ArcelorMittal .

In 2018 ArcelorMittal acquired the Italian steel producer Ilva. For antitrust reasons, the ArcelorMittal steel works in Ostrava , Galați , Skopje and Piombino were sold to the British Liberty House Group.

Corporate governance

Joint management was appointed on August 4, 2006. In addition to the first CEO, Roland Junck , the board also included Aditya Mittal as CFO, Michel Wurth, Davinder Chugh, Malay Mukherjee and Gonzalo Urquijo. However, a few months later, on November 6, 2006, Roland Junck resigned from his post. Lakshmi N. Mittal then took the chair. At the end of 2006, Davinder Chugh had also left the board.

On December 4, 2009, the Luxembourg Government Council decided to send the Minister for Economic Affairs and Foreign Trade Jeannot Krecké to the Board of Directors. He replaces Georges Schmit. The Luxembourg word comments:

"The fact that an incumbent member of the government is represented on a supervisory board is a one-off process and indicates a growing mistrust between the state as the second largest single shareholder and the main shareholder Lakshmi Mittal."

- according to the Luxembourg word

The largest single shareholder is the Mittal family with 40.83% of the shares and 42.22% of the voting rights. The second largest single shareholder is the Luxembourg state with only 2.5% of the shares or 2.58% of the voting rights.

With John Castegnaro , former President of the OGBL , the last of three employee representatives left the Board of Directors in spring 2010.

Corporate policy

At the beginning of 2010, ArcelorMittal is negotiating with its competitor BHP Billiton to merge its iron ore activities in Liberia and Guinea . A possible joint venture could strengthen the competitiveness of the iron ore and infrastructure sectors in the two countries.

In 2010 ArcelorMittal was fined around 276 million euros by the EU competition authority for illegal cartel agreements.

In 2011 the management announced closings and restructurings for plants in Luxembourg. On October 12, 2011, the Liege headquarters announced that the hot rolling mills in Seraing and Ougrée would be shut down.

At the end of 2011, due to lower demand, the group shut down capacities worldwide and temporarily or permanently shut them down.

2016, the great keep rating agencies , the debt of the Group for risky investments; four out of 25 blast furnaces have already been shut down since the 2007 merger; the group has announced an austerity program.

Germany

In Germany, ArcelorMittal has four production sites with pig iron and crude steel production. These locations are Hamburg (electrical steel with direct reduction plant ) with 548 employees (as of 2012), Duisburg and the integrated iron and steel works ArcelorMittal Bremen and ArcelorMittal Eisenhüttenstadt . More than 6,000 people are employed in Bremen and Eisenhüttenstadt. The capacity of both plants is approx. 12 million tons per year. In February 2010, the investment of 100 million euros in the Bremen steelworks was announced. To ensure the supply of the coke required for steel production, the Prosper coking plant in Bottrop was taken over by RAG on June 1, 2011 . At the end of 2009 the German headquarters ( Distribution Solutions ) was relocated from Ratingen to Cologne . The Distribution Solutions division operates the stockholding steel trade in Europe. In Germany alone, it has 28 branches and employs more than 1,000 people. Across Germany, over 8,000 people work for ArcelorMittal and generate sales of over 6 billion euros.

Luxembourg

In a meeting called steel tripartite between the company, the trade unions and the Luxembourg government on December 14, 2011, the restructuring plan “Lux2011” was extended to March 2012. The Cellule de reclassement (CDR), in which 600 steel workers were employed at the time, was continued for another three months on the agreed terms, with the state paying most of the wages.

Predecessor company

Works (selection)

Prosper coking plant in Bottrop

Web links

Commons : ArcelorMittal  - Collection of Images

Individual evidence

  1. ↑ a b Arcelor Mittal 2016 Annual Report , accessed March 4, 2017
  2. ↑ Stanley Reed: Mittal & Son. Www.businessweek.com, accessed on August 30, 2012 : “ Arcelor Mittal's headquarters may be in Luxembourg, Aditya says, but the 'power is in London.' "
  3. ↑ a b c "The heyday of the world's largest steel company is over" by Erik Nebel and Birgit Reichert aim Weser-Kurier from August 1, 2016 p. 13
  4. ↑ Archive link ( Memento of the original from November 18, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.peri.umass.edu
  5. ^ Forbes Global 2000 . In: Forbes . ( forbes.com [accessed November 20, 2017]).
  6. ↑ Arcelor and Mittal: Steel giants agree on fusion.
  7. ↑ Mittal / Arcelor: Fusion perfect.
  8. ↑ Mittal completes merger with Arcelor . Handelsblatt.com . June 29, 2007. Retrieved June 24, 2009.
  9. ↑ The Arcelor-Mittal steel group is rebuilding. In: Handelsblatt.
  10. ↑ The rise of the EuroStoxx boosts the Post share. In: Wirtschaftswoche . 2. September 2013.
  11. ↑ ArcelorMittal sells steel mills in Europe to Liberty House Group , at www.tt.com , accessed October 19, 2018
  12. ↑ Tageblatt Lëtzebuerg: Liberty Steel takes over seven steel works from Arcelor Mittal - including Dudelange. In: Tageblatt.lu. July 1, 2019, accessed August 11, 2019 .
  13. ↑ Roland Junck resigns: Lakshmi Mittal takes over the helm at ArcelorMittal.
  14. ↑ Conseil de gouvernement: Résumé des travaux du 4 décembre 2009. ( Memento of the original of February 21, 2011 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.gouvernement.lu
  15. ^ Minister in the Administrative Council.  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. In: Luxemburger Wort. December 5, 2009.@1@ 2Template: Dead Link / www.wort.lu  
  16. ↑ Investors and Shareholders. ( Memento of the original from November 15, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.arcelormittal.com
  17. ↑ Un syndicaliste s'en va, un ministre arrive ... ( Memento of the original from May 19, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. In: Le Jeudi . May 12, 2010.  @1@ 2Template: Webachiv / IABot / le-jeudi.editpress.lu
  18. ↑ Arcelor Mittal and BHP Billiton want to found Eisenerz-JV.
  19. ↑ EU penalty: Steel cartel has to pay half a billion euros. In: Spiegel Online. June 30, 2010.
  20. ^ ArcelorMittal: Impact des restructurations sur le périmètre de la sidérurgie. OGBL, communiqué of October 11, 2011 (PDF).
  21. ↑ ArcelorMittal closes blast furnaces. ( Memento of the original from January 17, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. In: Tageblatt . October 13, 2011.  @1@ 2Template: Webachiv / IABot / www.tageblatt.lu
  22. ↑ Helmut Wyrwich: ArcelorMittal extinguishes fires worldwide. ( Memento of the original from December 4, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. In: tageblatt . November 30, 2011. @1@ 2Template: Webachiv / IABot / www.tageblatt.lu
  23. ↑ Ten years of Arcelor-Mittal: the steel giant no longer shines. Retrieved August 11, 2019 .
  24. ↑ http://www.radioemscherlippe.de/Lokalnachrichten.2209+M539348c7aa8.0.html  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Toter Link / www.radioemscherlippe.de  
  25. ↑ Stahltripartite: Restructuring plan "Lux2011" extended to March 2012. In: Zeitung vum Lëtzebuerger Vollek . December 15, 2011.