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ArcelorMittal S.A. is a Luxembourg-based multinational steel manufacturing corporation headquartered in Luxembourg City. It is ranked second on the list of steel producers behind Baowu , and had an annual crude steel production of 78 million metric tonnes in 2023. [ 1 ]
Based on its compelling prospects, we believe ArcelorMittal (MT) has plenty of upside potential.
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ArcelorMittal (MT) benefits from strengthening end-market demand, cost-reduction actions and higher steel prices.
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.
The buyers were the AM Investco consortium, which beyond ArcelorMittal included Marcegaglia and Banca Intesa Sanpaolo. In its bid, AM Investco also pledged to make investments into Ilva of €2.4 billion until 2023. [2] The consortium's plan would cut the 14,220 jobs down to under 10,000 by 2018 and would stabilize at 8,500 by 2023. [16]
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