ArcelorMittal chairman and CEO Lakshmi Mittal issues tenth anniversary statement
ArcelorMittal S.A. /
ArcelorMittal chairman and CEO Lakshmi Mittal issues tenth anniversary statement
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"Steelmaking is our passion and it is this passion that will continue to drive
ArcelorMittal for many years to come"
London, 1 August 2016
On 1 August 2006, Arcelor and Mittal Steel merged to create the world''s leading
steel company. Today, the company is marking its ten-year anniversary.
Some key numbers:
* Global economic contribution in excess of US$700bn
* More than 890 million tonnes of finished steel products, shipped to
customers in more than 160 countries
* More than 250 new steels invented, R&D spend of US$2.5bn
* Recycled 260 million tonnes of steel, saving 341 million tonnes of CO(2)
* Lost time injury frequency rate of 0.78, down from 3.1
Looking back on the past decade Mr Lakshmi N. Mittal, chairman and CEO said:
"Ten years ago today marks the official merger of Arcelor and Mittal Steel,
resulting in the creation of ArcelorMittal: the world''s largest steel and mining
"The logic for the merger was that the combined business would enjoy numerous
advantages: geographic and product diversification, reducing volatility; the
ability to supply global customers and access high value-added, long-term
contracts; leadership in key product segments such as automotive; and access to
the lower costs and high growth of emerging markets.
"Much has changed since that time and many of the past ten years have been tough
for commodity and industrial companies, including steel companies. But the logic
of the merger is as sound today as it was in 2006 and I am convinced it helped
us to navigate this highly challenging environment and remain the world''s
leading steel and mining company.
"The past ten years have defined the spirit and culture of our company and
showcased our resilience, our strength, our knowledge and our capability to
respond swiftly. We have reshaped our asset base, we have improved our
competitiveness, we have improved our safety performance, we have strengthened
our balance sheet and we have invested in innovative products for the future.
We have faced tough market conditions but in many ways we are a stronger
company, better positioned for the future with world-class assets and a clear
strategy that will enable us to outperform in all market conditions.
"We are proud of the progress we have made. For our employees, critically, we
have created a safer work environment. In 2007 the company had a lost time
injury frequency rate of 3.1: today, it is 0.78. We will continue in our efforts
to make ArcelorMittal a safer place to work, until we reach zero.
"For our customers, we have delivered new and innovative steel products,
supported by our world class research and development teams and facilities. Our
total research and development investment since 2006 has been US$2.5bn,
supporting the invention of more than 250 new types of steel. That''s why we are
the leading supplier of quality steel products in all major markets - including
automotive, construction, household appliances and packaging - and rated as the
top technology supplier in the automotive sector.
"Our global reach - which the merger delivered - brings major benefits. For our
customers, it means that we offer the same quality of steel and service across
the world, as well as proximity to the customer. We have strategically expanded
this offering, for example through the acquisition of the Calvert downstream
operation in Alabama, AM/NS Calvert, or through building the VAMA greenfield
plant in China - both of which have expanded our capability to supply the
automotive industry, one of our most demanding and important customers.
"For our steel plants and mines, our global reach brings access to a network of
in-house experts that allows for the sharing of best practice. And for the
communities and countries in which we operate, it brings the economic benefits
of wages and taxes paid, jobs created and supplies bought. Our economic
contribution over the last ten years has been in excess of US$700bn.
"Looking ahead, we remain committed to maintaining our leadership position in
the steel industry and striving for ever higher standards in the way we run our
business and deliver value to our stakeholders. We have the platform and the
programmes, with Action 2020, to deliver further structural improvement that
will enable us to succeed and prosper in any environment. Our second quarter
earnings announced on 29 July 2016 demonstrated not only the improved market
conditions, but also the effect of the internal measures we have implemented to
"Steel remains integral to the fabric of modern life and we will continue to
promote and champion its use. Steelmaking is our passion and it is this passion
that will continue to drive ArcelorMittal for many years to come."
ArcelorMittal film - Our Ten Year Journey
Shot in multiple countries, highlighting the company''s size and scale, a new
film - ArcelorMittal - Our Ten Year Journey - has been released today, 1 August
2016. The film reminds viewers of the logic of the 2006 merger between Arcelor
and Mittal Steel, and looks at how the company has adapted and strengthened
itself in response to the decade''s major economic challenges and is now
positioning itself for the future.
Watch the film
Follow our #ArcelorMittal10 Twitter campaign
Read about the history of ArcelorMittal
ArcelorMittal is the world''s leading steel and mining company, with a presence
in 60 countries and an industrial footprint in 19 countries. Guided by a
philosophy to produce safe, sustainable steel, we are the leading supplier of
quality steel in the major global steel markets including automotive,
construction, household appliances and packaging, with world-class research and
development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components people use in their everyday lives more energy efficient.
We are one of the world''s five largest producers of iron ore and metallurgical
coal and our mining business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal assets, we are
strategically positioned to serve our network of steel plants and the external
global market. While our steel operations are important customers, our supply to
the external market is increasing as we grow.
In 2015, ArcelorMittal had revenues of US$63.6 billion and crude steel
production of 92.5 million tonnes, while own iron ore production reached 62.8
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT),
Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona,
Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
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Source: ArcelorMittal S.A. via GlobeNewswire
Firma: ArcelorMittal S.A.
Ansprechpartner: Stadt: London
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