ArcelorMittal S.A. is a Luxembourgish multinationalsteel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel. ArcelorMittal is the second largest steel producer in the world, with an annual crude steel production of 78.5 million metric tonnes as of 2018. It is ranked 120th in the 2019 Fortune Global 500 ranking of the world’s largest corporations.
Products and activities
The company is involved in research and development, mining, and steel.[55] ArcelorMittal in 2016 produced around 90 million tons of steel.[35] As of May 2017, the company made 200 unique steel grades for automotive purposes, half of which were introduced since 2007. Among the steel varieties are Usibor 2000, which the company announced in June 2016 and released later that year. Upon release, the high-strength automotive steel was said to be about one-third stronger than other steels then available for carmaking.
Company structure
Lakshmi Mittal (owner of Mittal Steel) is the executive chairman. His family owns 40% of the shares and voting shares in the company. After a $3 billion rights issue earlier in April 2016, the company by 21 April 2016 had a share value of 16,616 million euros, distributed in 3,065,710,869 shares.
Predecessor companies
Acquired by Mittal Steel Company:
- International Steel Group (acquired 2004)
- Bethlehem Steel – United States (acquired 2003)
- ISG Weirton Steel – United States (acquired 2002)[59]
- LTV-Steel Cleveland, OH – United States (acquired 2002)[59]
- Republic Steel – United States (acquired 1984)[60]
- Jones and Laughlin Steel – United States (acquired 1984)
- Acme Steel – Chicago, US (acquired 2002)
- Ispat International (acquired 2004)
- ArcelorMittal Kryvyi Rih – Ukraine (acquired 2005)
Acquired by Arcelor: