From Wikipedia, the free encyclopedia
| ArcelorMittal |
 |
| Type |
Public (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT) |
| Founded |
2006 |
| Headquarters |
 19, avenue de la Liberté, Luxembourg City, Luxembourg |
| Key people |
Joseph Kinsch, Chairman,
 Lakshmi Mittal, President & CEO |
| Industry |
Steel |
| Products |
Steel, Flat Steel products, Coated Steel, Tubes and Pipes |
| Revenue |
▲ $105.00 billion USD (2007) |
| Operating income |
▲ $10.00 billion (2007) |
| Employees |
320,000 (2006) |
| Website |
www.arcelormittal.com |
Headquarter in Luxemburg (city)
Headquarter Luxemburg (city)
Headquarter Luxemburg (city)
ArcelorMittal (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT) is the largest steel company in the world.[1][2] The company was founded in 2006 when Arcelor and Mittal Steel merged. The company is headquartered in Luxembourg City, in southern Luxembourg, the former seat of Arcelor.
[edit] Organizational structure
Lakshmi Mittal (owner of Mittal Steel) is the president and CEO. Mittal's family hold a 43.6% stake in this company. Counting all shareholders, 50.6% will be former Arcelor shareholders and 49.4% will be former Mittal shareholders.
In addition to Lakshmi Mittal as president and CEO, the Board of Directors of the company consists of eighteen non-executive members with six nominated by Mittal, three chosen independently, six nominated by Arcelor, three chosen by existing Arcelor shareholders and three employee representatives.
[edit] Business
The company is headquartered in Luxembourg, though Lakshmi Mittal works out of offices in Berkeley Square in London. In its current form, it is expected to have a planned capacity of 120 million tonnes. Its annual revenues are expected to be around $108 billion, earnings of $20 billion and market capitalization of about $96 billion and will have 320,000 employees.
Mittal invested more than 33 billion dollars to take over Arcelor. Arcelor shareholders will receive 13 Mittal Steel shares and 155.60 euros in cash for 12 Arcelor shares. Mittal Steel is also offering 13 Mittal Steel shares and 188.42 euros in cash for 12 Arcelor convertible bonds. Current Arcelor shareholders will own 50.5 per cent of the combined group and the Mittal family 43.6 per cent of the capital and voting rights. The company's profit went up by 40% after the merger.
As of May 17 2008, the market capitalisation of Arcelor Mittal was $144.37 billion. [1]
[edit] References
[edit] External links
