ArcelorMittal

ArcelorMittal is a trans-national steel company, which emerged from the Dutch Mittal Steel Company and the Luxembourg Arcelor in 2007.

Official company is based in Luxembourg may, in fact ArcelorMittal is however directed from London.

The company has about 60 plants in more than two dozen countries and employs about 310,000 people. For 2007, an EBITDA of 19.4 billion U.S. dollars was announced. Thus ArcelorMittal is before ThyssenKrupp and the Spanish Acerinox the largest steel producer in the world (2009 it produced 73.2 million tonnes of crude steel ) and one of the world's leading multinational corporations, in 2008 at No. 28 of the Fortune 500

History

The Mittal Steel Company B. V. from Rotterdam, who prior to the merger 's largest steel producer in the world, had the Arcelor SA, the original second- largest steel producer in the world, on 27 January 2006 surprised with a tender offer valued at 18.6 billion euros. There was a huge controversy - the Luxembourg-based, multinational Arcelor group first tried by all means to prevent a hostile takeover, but accepted on 25 June 2006 but increased again to around 26 billion euros offered by the competitors. During the year 2007, the merger of the two companies has been successful: The two general meetings of Arcelor and Mittal decided on 5 November 2007 in Luxembourg officially the merger of two previously independent companies. The first listing of the new shares were issued on November 13, 2007. Currently is the market capitalization of ArcelorMittal SA at about 50 billion euros.

The economic and financial crisis starting in 2009 has hit Arcelor -Mittal; 2009 halved the sales and the result was clearly negative. Hardly fared better competitors ThyssenKrupp, Outokumpu and Acerinox which also suffered heavy losses in the stainless steel sector, but cut the competitors in this year better. So they were able to surpass the sales level from the full year 2009, unlike Arcelor -Mittal in the first nine months of 2010 already. The weakness at Arcelor -Mittal is also evident in their declining market share. The Luxembourg were measured by sales, behind Thyssen- Krupp and the Spanish Acerinox third place back. Arcelor -Mittal has to strive to be overtaken even by the Finnish Outokumpu, which is expanding its market share with aggressive prices now.

Effective September 23, 2013, the German Post AG moved instead of ArcelorMittal in the EURO STOXX 50.

Management

A common management was appointed on 4 August 2006. In addition to the first CEO Roland Junck the board were also at Aditya Mittal CFO, Michel Wurth, Davinder Chugh, Malay Mukherjee and Gonzalo Urquijo. Roland Junck joined but a few months later, on 6 November 2006, from his post. Then Lakshmi N. Mittal took over the presidency. Davinder Chugh end of 2006, had also left the Board.

On 4 December 2009, the Government of Luxembourg has decided to send the Economy and Foreign Trade Minister Jeannot Krecké to the Board. He replaces Georges Schmit. The Luxemburger Wort comments:

"The fact that an acting member of the government is represented in the Supervisory Board, is a one time process and indicates a growing mistrust between the state as the second largest individual shareholder and the main shareholder Lakshmi Mittal. "

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

With John Castegnaro, formerly President of the OGBL, in the spring of 2010, the last of three former representatives of the employees resigned from the Board.

Corporate policy

ArcelorMittal negotiated in early 2010 with its competitor BHP Billiton on pooling 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.

ArcelorMittal in 2010 imposed a fine of approximately 276 million euros by the competition authority of the EU for illegal cartel agreements.

In 2011, the Board announced closures and restructurings of works in Luxembourg. On 12 October 2011 the Directorate announced in Liege, that the hot rolling mills in Seraing and Ougrée to be turned off.

End 2011, the Group has shut down due to back previous demand worldwide capacity and shut down temporarily or for good.

Germany

In Germany, ArcelorMittal has four production sites with cast iron and steel production. These sites are Hamburg ( electrical steel direct reduction plant ), Duisburg and the integrated steelworks ArcelorMittal Bremen and of ArcelorMittal city. In Bremen and Eisenhüttenstadt total of over 6,000 employees. The capacity of both plants is approximately 12 million tons per year. In February 2010, the investment of 100 million euros in the steel plant in Bremen was announced. To security of supply for the coke required for steel production, the Prosper coking plant in Bottrop was acquired by RAG on 1 June 2011. End of 2009, Germany headquarters ( Distribution Solutions ) from Ratingen was moved to Cologne. The area Distribution Solutions operates the stockholding steel trade in Europe. In Germany alone, these features over 28 branches and employs more than 1,000 employees. Thus operate throughout Germany over 8,000 employees for ArcelorMittal and generate sales of more than 6 billion euros.

Luxembourg

In a meeting called Stahltripartite of companies, trade unions and the Luxembourg Government on 14 December 2011, the restructuring plan » Lux2011 " has been extended until March 2012. Thus, the Cellule de is reclassement (CDR ), are employed in the current six hundred steel workers, during the next three months, continue to the existing conditions, which for the most part, the state pays the wages.