Arcelor Mittal

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ArcelorMittal
TypePublic (Euronext: MT), (NYSE: MT, LuxSE: MT)
Founded2006
HeadquartersImage:Flag of Luxembourg.svg 19, avenue de la Liberté, Luxembourg City, Luxembourg
IndustrySteel
ProductsSteel, Flat Steel products, Coated Steel, Tubes and Pipes
RevenueImage:Green Arrow Up Darker.svg $88.00 billion USD (2006)
Operating incomeImage:Green Arrow Up Darker.svg $14.00 billion (2006)
Employees320,000 (2006)
SloganTransforming Tomorrow
Websitewww.arcelormittal.com

ArcelorMittal (Euronext: MT), (NYSE: MT, LuxSE: MT) is the largest steel company in the world.[1][2] The company was founded in 2006 when Arcelor and Mittal Steel merged. The company is headquartered in Luxembourg City, in southern Luxembourg, the former seat of Arcelor.

Contents

[edit] Organizational structure

Lakshmi Mittal (owner of Mittal Steel) is the president and chairman. Mittal's family will hold a 43.6% stake in this company. Counting all shareholders, 50.6% will be former Arcelor shareholders and 49.4% will be former Mittal shareholders.

In addition to Lakshmi Mittal as president and CEO, the Board of Directors of the company consists of eighteen non-executive members with six nominated by Mittal, three chosen independently, six nominated by Arcelor, three chosen by existing Arcelor shareholders and three employee representatives.

[edit] Business

The company is headquartered in Luxembourg, though Lakshmi Mittal works out of offices in Berkeley Square in London. In its current form, it is expected to have a planned capacity of 120 million tonnes. Its annual revenues are expected to be around $100 billion, earnings of $15 billion and market capitalization of about $96 billion and will have 320,000 employees.

Arcelor shareholders will receive 13 Mittal Steel shares and 155.60 euros in cash for 12 Arcelor shares. Mittal Steel is also offering 13 Mittal Steel shares and 188.42 euros in cash for 12 Arcelor convertible bonds. Current Arcelor shareholders will own 50.5 per cent of the combined group and the Mittal family 43.6 per cent of the capital and voting rights. The company's profit went up by 40% after the merger.

[edit] References

  1. ^ ArcelorMittal sees profit up 40%. BBC News (2007-05-16).
  2. ^ World Steel in Figures. International Iron and Steel Institute (2006).

[edit] External links

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Arcelor Mittal · BIP Investment Partners · Cegedel · Dexia · Fortis · Foyer · KBC Group · Luxempart · RTL Group · SES

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