ArcelorMittal

ArcelorMittal
source
Name	ArcelorMittal
Foundation	0 2006
Founder	Lakshmi Mittal
Location	Luxembourg City, Luxembourg
Key people	Lakshmi Mittal (Executive Chairman), Aditya Mittal (CEO)
Industry	Steel
Products	Flat steel, Long steel, Tubular products
Revenue	US$79.8 billion (2023)
Num employees	~157,910 (2023)
Homepage	https://corporate.arcelormittal.com/

ArcelorMittal is a multinational steel manufacturing corporation headquartered in Luxembourg City. Formed in 2006 from the merger of Arcelor and Mittal Steel, it is the world's largest steel producer outside of China, operating in over 60 countries. The company's extensive portfolio includes the production of flat steel, long steel, and tubular products for major industries such as automotive, construction, and appliance manufacturing.

History

The company's origins trace to the 2006 merger between Arcelor, a European steel group formed from the consolidation of companies like Aceralia, Arbed, and Usinor, and Mittal Steel, a global steel empire built by Lakshmi Mittal. This merger, valued at over $33 billion, created the world's first 100 million tonne steel company. Key acquisitions that shaped its growth include the purchase of Kryvorizhstal in Ukraine in 2005 and the takeover of Essar Steel in India through a joint venture with Nippon Steel in 2019. The company has also divested significant assets, such as its operations in the United States and Canada to Cleveland-Cliffs in 2020.

Operations

ArcelorMittal operates a vast, integrated production network with major facilities on four continents. Its primary steelmaking assets include large integrated plants like those in Ghent, Dunkirk, and Fos-sur-Mer in Europe, as well as in Indiana Harbor and Burns Harbor in the United States. The company is a major supplier to the global automotive industry, producing advanced high-strength steels, and has significant mining operations providing key raw materials like iron ore and coal. It also pursues strategic joint ventures, such as AM/NS India with Nippon Steel and ArcelorMittal Dofasco in Canada.

Corporate structure

The corporation is led by Executive Chairman Lakshmi Mittal and CEO Aditya Mittal, with its global headquarters in Luxembourg. Its operations are organized into multiple segments, including NAFTA, Europe, Brazil, ACIS (Africa and Commonwealth of Independent States), and India. The company's shares are listed on the stock exchanges of New York, Amsterdam, Paris, Luxembourg, and the Spanish exchanges of Barcelona, Bilbao, Madrid, and Valencia.

Environmental and social impact

ArcelorMittal has committed to significant carbon emission reduction targets, aiming for a 25% cut by 2030 and carbon neutrality in Europe by 2050. It is investing in cleaner production technologies, including hydrogen-based direct reduced iron (DRI) plants and carbon capture and storage projects. The company's operations have faced scrutiny over environmental incidents, such as a major toxic sludge spill from its Kryvyi Rih plant in Ukraine. It actively engages in corporate social responsibility programs focused on sustainable development and community support in its operating regions.

Financial performance

As a publicly traded entity, the company's financial results are closely tied to global steel prices and demand cycles. For the 2023 fiscal year, ArcelorMittal reported revenue of US$79.8 billion and a net income of US$919 million. Its financial performance is significantly influenced by economic conditions in key markets like the European Union, United States, and China, as well as the cost volatility of raw materials such as iron ore and coking coal.

See also

* Lakshmi Mittal * Steel industry * Nippon Steel * Baowu Steel * Cleveland-Cliffs

Category:Steel companies Category:Companies listed on the New York Stock Exchange Category:Companies based in Luxembourg