ArcelorMittal

ArcelorMittal, S.A.

Type	Société Anonyme
Traded as	Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT
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, wire products, plates
Revenue	US $78.03 billion (2010)
Operating income	US $3.605 billion (2010)
Profit	US $2.916 billion (2010)
Total assets	US $130.9 billion (2010)
Total equity	US $66.10 billion (2010)
Employees	263,000 (end 2010)
Website	www.arcelormittal.com

ArcelorMittal S.A. (French pronunciation: [aʁsəlɔʁmiˈtal]) is a global steel company headquartered in Avenue de la Liberté, Luxembourg, Luxembourg. It is the largest steel producing company in the world 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 takeover of Arcelor by Mittal Steel. It ranks 99th on the 2010 Fortune Global 500 list.

History

Its industrial presence in Europe, Asia, Africa, North America, and South 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 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 the 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.

As of 4 November 2008, the market capitalisation of ArcelorMittal was $35.37B.

In December 2008, ArcelorMittal announced several plant closings, including the former Bethlehem Steel plant in Lackawanna, New York, U.S and LTV Steel in Hennepin, Illinois, U.S.

On 30 June 2010, the European Commission fined 17 steel producers a total of €518M for running a price-fixing cartel, with ArcelorMittal being hit the hardest.

On 26 January 2011, the Stainless steel division split off as a new company, Aperam.

Organizational structure

Lakshmi Mittal (owner of Mittal Steel), is the Chairman and CEO and owns 40% the shares and voting shares in the company.

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, Lou Schorsch, 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 26 June 2006.

Head office

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  Headquarters in Luxembourg City

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  Headquarters in Luxembourg City

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  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.

ArcelorMittal is also Luxembourg's largest employer. As of 1 January 2011, it had 6,070 employees in the Grand Duchy followed by the BGL BNP Paribas bank (4,110) and the Cactus retailing business (3,900).

See also

• ArcelorMittal Orbit

External links

• Official website
• Collected news and commentary at The New York Times
• ArcelorMittal nominated for Public Eye Awards 2010