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The town has a long-standing iron foundry, owned by the ArcelorMittal group. It comprises production lines for rolling, annealing and scouring, and it also manufactures steel. The Arcelor Mittal factory of Saint chely was created in 1916. It produces 100,000 tonnes of steel per year and it is the European leader in top of the range products.
ArcelorMittal was created by the takeover of Western European steel maker Arcelor (Spain, France, and Luxembourg) by Indian-owned multinational steel maker Mittal Steel in 2006, at a cost of €40.37 per share, approximately $33 billion total.
Le Creusot (pronounced [lə kʁøzo]) is a commune and industrial town in the Saône-et-Loire department, region of Bourgogne-Franche-Comté, eastern France. The inhabitants are known as Creusotins. Formerly a mining town, its economy is now dominated by metallurgical companies such as ArcelorMittal, Schneider Electric, and Alstom.
In the 1880s the company obtained concessions in the Walert Mine [4] and a mine at Ottange in Moselle, France. In 1897 the third blast furnace began operation. [1] In 1899 the company Usines et Fonderies de Rodange was founded, [5] for the production of pipes and other metal castings.
By February 2018, the organization had been rebaptized Industeel France and was then owned by ArcelorMittal. [12] The French arm had been augmented by Industeel Belgium, which operated with 1200 employees in Charleroi. [13] In November 2020, ArcelorMittal had decided to sell the unit. [14] [13]
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 ...
Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004.
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.