ARCELORMITTAL

  • ArcelorMittal, Nippon to buy ThyssenKrupp US factory November 30, 2013

    ArcelorMittal, the world's largest steel maker, and Japan's Nippon Steel amp;amp; Sumitomo Metal Corporation will jointly acquire ThyssenKrupp AG's US steel mill for USD 1.55 billion. The acquirers have formed a joint venture and will finance the deal through equity and debt, ArcelorMittal said in a statement. The plant at Calvert,...
  • S&P cuts ArcelorMittal debt to junk status August 3, 2012

    Rating agency Standard & Poor's cut ArcelorMittal's longterm debt to junk status on Thursday and said uncertainty about the debt reduction plans of the world's largest steelmaker and a weak sector outlook meant it could cut further. S&P said it had downgraded the Luxembourgbased company because it felt the steel industry...
  • Jharkhand tribal body opposes ArcelorMittal project July 5, 2012

    Ranchi: A Jharkhandbased tribal body today said it would continue to oppose steel tycoon LN Mittal's project in the state. "We will not allow any new steel company in Jharkhand. They (industrialists) are out to destroy forest and fertility of agricultural land. Forty villages in Gumla and Khunti districts will be affected...
  • Stop maligning India, steel minister tells LN Mittal July 1, 2012

    New Delhi: Steel minister Beni Prasad Verma on Sunday said NRI billionaire LN Mittal should stop "maligning" India and its government, asking why the steel baron was not setting up his plants in the country. "He should stop maligning India and the Indian government. Why is he not beginning work on...
  • India condemning millions to stay poor: LN Mittal June 21, 2012

    New Delhi: Joining the likes of NR Narayana Murthy and Azim Premji to blame the Indian government for policy inaction, UKbased NRI billionaire Lakshmi N Mittal has said the country is potentially condemning millions to remain in poverty by not helping industrialisation. "Industrialisation is an important part of every major economy's...
  • India not top investment priority: Lakshmi Mittal May 10, 2012

    London: India does not figure among ArcelorMittal's top investment priorities as its $30 billion steel projects face long delays, Chairman L N Mittal said on Thursday. However, the country from where UKbased billionaire comes from remains a priority for the world's largest steel producer. "India is always in our top of...
  • India plans may be stalled for years: Lakshmi Mittal May 8, 2012

    Luxembourg: ArcelorMittal's planned steel plant investments in India are likely to be stalled for years, the company's chief executive said on Tuesday. "We continue to experience difficulties in India. My belief is that the Indian projects may not see the light for five to 10 years," Lakshmi Mittal told the...
  • Over 4 pc of world's billionaires Indians: Forbes March 8, 2012

    New York: India is home to over four per cent of the world's billionaires, including the likes of the Ambani brothers, Azim Premji and NR Narayan Murthy alongside Warren Buffet and Bill Gates in Forbes magazine's annual list of the world's richest people. Forbes's list of 1226 billionaires is topped by...
  • Pak rejects Lakshmi Mittal's investment proposal December 6, 2011

    Islamabad: Pakistani authorities have turned down a proposal by Indiaorigin steel magnate Lakshmi Mittal's company ArcelorMittal to invest in a coal project in the Thar desert of Sindh province, a media report said on Tuesday. The offer by Mittal's company to invest in the Thar coal project was brokered through a...
  • Lakshmi Mittal named most powerful Asian in UK November 24, 2011

    London: Lakshmi Mittal, the NRI steel tycoon with a fortune estimated at 15.5 billion pounds, is the most powerful Asian in Britain, according to a new list of eminent Asians in the country. Mittal, 61, Chairman of the Board of Directors and CEO of ArcelorMittal, the world's leading integrated steel...
  • Ultra mega steel plants: do we need them? August 16, 2011

    The slow pace of capacity addition ails the Indian steel industry and PK Misra, the top bureaucrat at the countr's steel ministry, is trying hard to find a solution. For the past few weeks, Misra's team is weighing the pros and cons of what could be a oneshot solution, ultra...
  • Jindal's Steely Resolve January 7, 2011

    There was no sign of a sleepless night on Sajjan Jindal's face as he strode in for the 3 pm press conference on December 21. Just 10 hours earlier, at 5 a.m., he and his company JSW Steel's board members had finished a fivehour meeting at Jindal Mansion, the Mumbai...
  • ArcelorMittal may shift projects within India: chief January 7, 2010

    New Delhi: No. 1 global steelmaker ArcelorMittal may consider shifting the location of its steel projects within India, said company chairman Lakshmi Mittal on Thursday. When asked whether the company may consider shifting its project in Orissa to some other place such as Karnataka, Mittal said: "Which is possible." "Steel plants cannot...
  • ArcelorMittal still 'fully committed' to India October 5, 2009

    Brussels: ArcelorMittal, the world's largest steelmaker, said on Monday it remained committed to building steel plants in India, but could abandon existing plans and look for a different site. "We remain fully committed to India," a spokesman for the group said, though ArcelorMittal needed to keep its options in the country...
  • ArcelorMittal to cut 1,000 jobs even in lowcost Poland December 4, 2008

    Warsaw: In what seems to be a deviation from its stated policy to cut only nonproduction jobs and also an indication of demand contraction worldwide, the world's largest steel maker, the ArcelorMittal Group, has decided to cut 1,000 production employees from its plants in Poland, which have the lowest...
  • Steelmaker ArcelorMittal to cut up to 9,000 jobs November 28, 2008

    Brussels: ArcelorMittal, the world's largest steelmaker, unveiled plans on Thursday to slash up to 9,000 more jobs, saving $1 billion a year in response to a deepening global economic downturn. The company said it would launch a voluntary redundancy scheme for largely white collar staff to make the cuts, which...
  • Armed tribals protest Arcelor Mittal plant in Jharkhand October 20, 2008

    Ranchi (Jharkhand): Thousands of villagers marched in Jharkhand on Monday to protest against a proposed Arcelor Mittal steel plant, police said, the latest in a series of confrontations over industry on farmlands. Armed with bows and sickles, the villagers, members of poor local tribes in Jharkhand, held banners that said:...
  • Arcelor Mittal is next victim of land acquisition row October 18, 2008

    Ranchi: After the land acquisition row faced by Tata Motors for its Nano project in West Bengal, it is time for the global steel major Arcelor Mittal in Jharkhand to face the heat for the same reason, as it plans its greenfield steel project. Arcelor Mittal had selected an area in...
  • Rough weather for Arcelor Mittal plant in Orissa May 28, 2008

    Keonjhar, Orissa: Yet another mega industrial project maybe running into controversy. This time over steel giant Arcelor Mittals plan to build a Rs 40,000crore plant in Keonjhar district The POSCO and Tata Steel plants have run into trouble because of protests against land acquisition. Arcelor Mittal's 12million tonne steel plant...
  • On strike: Workers storm ArcelorMittal factory April 14, 2008

    Bucharest: Guards used tear gas on Monday on hundreds of striking workers who were trying to storm a factory owned by the Arcelor Mittal Galati steel company in eastern Romania. Some 3,600 steel workers have begun a strike at the plant to demand higher wages, said trade union leader Gheorghe Tiber...
  • ArcelorMittal office ransacked | Job woes in US April 5, 2008

    New Delhi: After reports of 80,000 job cuts in US, the tremors of a global job cut was also felt at ArcelorMittal when furious workers of steel giant stormed its plant in eastern France, ransacking Laxmi Mittal office and throwing his furniture and files out of the window. This after...
  • Arcelor Mittal may produce 12% of world steel in 35 yrs July 13, 2007

    New Delhi: LN Mittal, Chairman and CEO of worlds largest steel company ArcelorMittal is now eyeing as much as 12 per cent share of the global steel businesses, he revealed his plans to acquiring more businesses over the next 35 years. Right now in terms of...
  • POSCO next on Mittal's acquisition list? March 19, 2007

    New Delhi: Indiaborn steel czar L N Mittal has set its eyes on POCO, and has been planning a hostile takeover bid for acquiring the South Korean conglomerate, reports Korea Economic Daily. The Korean giant is looking to build up its defence against any such move by raising friendly...
  • Posco next on Mittal's shopping list March 16, 2007

    New Delhi: If you thought L N Mittal was satisfied when he bought out Arcelor, think again. Now the world's largest steel maker Arcelor Mittal could be eyeing another bigticket acquisition South Korea's steel giant Posco. According to reports in the South Korean economic daily, Arcelor Mittal could be in...
  • Mittal must pay more for stakes: China March 14, 2007

    Beijing: Amid domestic concerns about foreign giants acquiring key state assets, China has asked Arcelor Mittal to pay more for a higher stake in Laiwu Steel, insisting that the global steel giant has "underestimated" the value of Laigang Group, the controlling shareholder of Laiwu Steel. Arcelor Mittal will have to offer...
  • India gears up for steel price slash March 5, 2007

    New Delhi: Major steel companies are set to roll back their recent price hike after a meeting with the steel secretary. Price hikes in Europe and low inventory levels in developed markets had led Indian steelmakers to increase hot rolled steel prices, by an average of Rs 1,000 per...
  • Will falling prices affect steel majors? November 7, 2006

    London: The steel industry has seen two of its biggest takeovers this year, courtesy Mittal and Tata Steel. And the industry is heading further consolidation. But are these bigticket buyouts going to payoff? Analysts say steel prices are showing signs of weakening. "The Economist Intelligence Unit has predicted a fall of...