Where is ArcelorMittal based?
Luxembourg city
ArcelorMittal, steelmaking company that, when formed from the merger of the Arcelor and Mittal steel companies in 2006, was the world’s largest. Its headquarters are in Luxembourg city.
Who owns ArcelorMittal steel company?
CEO Lakshmi Mittal
Mittal Steel Company N.V. was one of the world’s largest steel producers by volume, and also one of the largest in turnover. The Indian owned company is now part of ArcelorMittal. CEO Lakshmi Mittal’s family owned 88% of the company….Mittal Steel Company.
| Type | Public |
|---|---|
| Number of employees | 320,000 (2006) |
| Website | www.arcelormittalna.com |
How did Mittal acquired Arcelor?
Lakshmi Mittal, CEO of Mittal Steel, a UK-based company with Indian roots, took advantage of a weakened Arcelor that had successfully won a bidding war for Canadian steel company Dofasco, with an unsolicited bid to buy the company.
What was the deal for Mittal?
The $33.7 billion (Rs 1,52,000 crore approx) deal will leave 43 per cent of the shares with the Mittal family, creating the largest steel company. The new company, with production of 110 mt, would be three times larger than its nearest rival.
What effect did the Arcelor Mittal merger have on the global steel industry?
The most definitive benefit that has been derived from this merger is the increment in the value of the steel assets worldwide and AreclorMittal has emerged as one supergiant with almost no competition from others for many years to come (SteelConsult International, 2007).
Why did the merger of Arcelor and Mittal make sense?
Steel companies consume a great deal of cash, and it was suggested that Mittal wanted Arcelor for its stronger cash flow (because it was better invested, hence over the cycle would at some stage be throwing off a lot). Demography For this end markets are a proxy.