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ArcelorMittal
ArcelorMittal S.A. is a Luxembourg-based multinational steel manufacturing corporation, headquartered in Luxembourg City. It was the world's largest producer of steel in 2019 after which production declined to an annual crude steel production of 58 million metric tonnes in 2024. With that ArcelorMittal was competing for the second place on the list of steel producers with the Chinese Ansteel Group behind Baowu of China which had a steel output of the former two combined.
ArcelorMittal has steel-making operations in 15 countries, including 37 integrated and mini-mill steel-making facilities. In 2024, the company's production was 38% in the Americas, 53% in Europe and 9% in other countries, such as South Africa and Ukraine. The company is vertically integrated and produces 58% of its iron ore needs, 90% of its coke needs, and 54% of its scrap and direct reduced iron needs.
The company is ranked 190th on the Fortune Global 500.
In 2024 company was 39.88% owned by Lakshmi Mittal and his family and the remainder of the company is publicly traded.
The company has iron ore mining activities in Brazil, Bosnia, Canada, Liberia, Mexico, Ukraine, South Africa and, via its joint venture in India and associate in Baffinland in Canada. The company's market share in the production of steel for the automotive industry is 15%.
The company makes 200 unique steel grades for automotive purposes. Among the steel varieties are Usibor 2000, which was released in 2016 and was said to be one-third stronger than other steels then available for car-making.
ArcelorMittal was formed in 2007 from the $33 billion acquisition of Arcelor by Mittal Steel Company. The merger was consummated after Mittal Steel Company raised its bid for Arcelor and the Mittal family agreed to relinquish its controlling stake in the company and execute a standstill agreement not to acquire a controlling interest without approval from independent directors. The resulting firm produced approximately 10% of the world's steel, and was at that time the largest steel company worldwide.
In August 2007, the company acquired Sicartsa, operator of a plant in Mexico, from Grupo Villacero for $1.44 billion.
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ArcelorMittal
ArcelorMittal S.A. is a Luxembourg-based multinational steel manufacturing corporation, headquartered in Luxembourg City. It was the world's largest producer of steel in 2019 after which production declined to an annual crude steel production of 58 million metric tonnes in 2024. With that ArcelorMittal was competing for the second place on the list of steel producers with the Chinese Ansteel Group behind Baowu of China which had a steel output of the former two combined.
ArcelorMittal has steel-making operations in 15 countries, including 37 integrated and mini-mill steel-making facilities. In 2024, the company's production was 38% in the Americas, 53% in Europe and 9% in other countries, such as South Africa and Ukraine. The company is vertically integrated and produces 58% of its iron ore needs, 90% of its coke needs, and 54% of its scrap and direct reduced iron needs.
The company is ranked 190th on the Fortune Global 500.
In 2024 company was 39.88% owned by Lakshmi Mittal and his family and the remainder of the company is publicly traded.
The company has iron ore mining activities in Brazil, Bosnia, Canada, Liberia, Mexico, Ukraine, South Africa and, via its joint venture in India and associate in Baffinland in Canada. The company's market share in the production of steel for the automotive industry is 15%.
The company makes 200 unique steel grades for automotive purposes. Among the steel varieties are Usibor 2000, which was released in 2016 and was said to be one-third stronger than other steels then available for car-making.
ArcelorMittal was formed in 2007 from the $33 billion acquisition of Arcelor by Mittal Steel Company. The merger was consummated after Mittal Steel Company raised its bid for Arcelor and the Mittal family agreed to relinquish its controlling stake in the company and execute a standstill agreement not to acquire a controlling interest without approval from independent directors. The resulting firm produced approximately 10% of the world's steel, and was at that time the largest steel company worldwide.
In August 2007, the company acquired Sicartsa, operator of a plant in Mexico, from Grupo Villacero for $1.44 billion.