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The resulting merged business was named ArcelorMittal and was headquartered in Luxembourg City. [11] [12] The resulting firm produced approximately 10% of the world's steel, and was by far the world's largest steel company. Total revenues in 2007 were $105 billion. [13] [14] By February 2008, the company had 320,000 employees in 60 countries. [14]
CEO Lakshmi Mittal's family owned 88% of the company. Mittal Steel was based in Rotterdam but managed from London by Mittal and his son Aditya.It was formed when Ispat International N.V. acquired LNM Holdings N.V. (both were already controlled by Lakshmi Mittal) and merged with International Steel Group in 2004.
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Once employing 310,000 employees in over 60 countries, it was a major player in all its main markets: automotive, construction, metal processing, primary transformation, household appliances, and packaging, as well as general industry. With total sales of over €40 billion, Arcelor was, by 2006, one of the world's largest steel manufacturer in ...
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The number of employees fell from 27,600 in 2001 to 8,700 in 2011, mainly through voluntary retirements coupled with significant bonuses. [ 1 ] [ 4 ] The privatization of the Galați yard was the first such successful endeavor in the Romanian steel industry, which fared especially well in 2006-2008, thanks to foreign and domestic demand for ...
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Québec Cartier Mining Company was one of the leading producers of iron ore products in North America, now part of ArcelorMittal. The company was founded in the late 1950s by multiple Canadian and American investors, based in Quebec , Canada .