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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.
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.
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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The company was the target of a hostile takeover bid by its rival Mittal Steel on 27 January 2006. [1] However, the bid resulted in substantial increase in Arcelor's share value. Two members of the board of Arcelor, Guillermo Ulacia and Jacques Chabanier also resigned suddenly. [2] On 26 May 2006 Arcelor announced its intention to merge with ...
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ArcelorMittal said it expects steel consumption, excluding China, to grow between 2.5% and 3% and sees its own steel shipments rising by 3% in 2022. ArcelorMittal raises dividend, announces new $1 ...
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 .