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ArcelorMittal South Africa, a unit of steel manufacturing company ArcelorMittal (NYSE:MT) has made a major restructuring decision to wind down its Longs Business, having significant consequences ...
Saldanha Steel was a South African steel company originally formed as a partnership between Iscor Limited and the Industrial Development Corporation (IDC). [1] Saldanha Steel is now part of ArcelorMittal South Africa, which in turn is part of global steel company ArcelorMittal .
ArcelorMittal South Africa is part of the steel company Arcelor-Mittal. [ 1 ] [ 2 ] The company was originally Iscor Ltd. , a South African parastatal steel company. It was founded in 1928 and was first listed on the JSE Securities Exchange in 1989.
As of 31 December 2013, the company employed over 232,000 people, of which 37% were in the EU, with a further 16% in non-EU European countries, 17% in Asia, 16% in North America, the remainder split between South America and the Middle East and Africa. [64] ArcelorMittal is also Luxembourg's largest private employer.
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This list comprises the largest companies currently in Africa by revenue as of 2022, excluding the finance sector, according to the ranking of the largest 500 companies in Africa by Jeune Afrique. In 2022, the largest company in Africa was Sonatrach with revenue of US$77 billion.
[citation needed] The area straddles the Vaal River and is a major industrial region, which is home to former Iron and Steel Corporation Iscor, now ArcelorMittal South Africa, and Sasol, respectively the steel and petrochemical processing facilities. [3] [4]