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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.
The company was created in 2002 by a merger of the former companies Aceralia (Spain), Usinor (France) and Arbed (Luxembourg). Arcelor is now part of ArcelorMittal after a takeover by Mittal Steel in 2006.
Usinor (Union Sidérurgique du Nord de la France) was formed in 1948 by a merger of Denain-Anzin, founded in 1849 and Nord-Est (Forges et Aciéries du Nord-Est). [2] The main reason for the merger was to implement a continuous rolling mill to reduce costs and satisfy the expected growing market for automobiles and consumer goods.
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.
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 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 ...
The Institut de recherche de la sidérurgie (IRSID) is the old name of ArcelorMittal Maizières Research SA, a private research center related to the siderurgical society ArcelorMittal (originally (Usinor, then Arcelor)), founded in 1946 and situated at Maizières-lès-Metz, in Lorraine. [1] Two of the Institute's three centres were closed in ...
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]