SHANGHAI AFP — The world's biggest steelmaker, Arcelor Mittal, has agreed to set up an electrical steel joint venture with Hunan Valin Iron and Steel Group, a listed unit of the Chinese company said Thursday. Under the deal signed on August 11, the joint venture will have a total...
PARIS AFP — Arcelor Mittal, the world's biggest steel producer, announced on Tuesday a bond issue to raise 3.0 billion dollars (1.9 billion euros) which would be used to reduce debt. Half of the amount would be raised with bonds with a life of five years and half with...
PARIS AFP — The world's largest steel group ArcelorMittal said Saturday it has finalised the 810 million dollar (525 million euro) sale of a plant in the United States to Russian steelmaker Severstal. It was ordered to dispose of the Sparrows Point plant in Baltimore, Maryland, by US authorities...
Although headquartered in Luxembourg and headed by London-based Lakshmi Mittal, Arcelor Mittal is regarded as one of the new wave of Indian companies that are making a huge splash in their respective sectors in Africa. [ILLUSTRATION OMITTED] Investment in Liberia was already expected but has now been increased...
PARIS AFP — ArcelorMittal, the world's largest steel maker, said Friday it would boost its stake in Chinese iron and steel producer China Oriental Group, in which it already holds a 28-percent interest. The size of the planned increase was not disclosed. Arcelor said late last month that...
Esmark Inc. Chairman and CEO Jim Bouchard says he's still hoping to acquire Mittal Steel Co.'s Sparrows Point plant, though the final decision is out of his hands.Mittal is under federal order to divest the Maryland mill to satisfy concerns that its merger with Arcelor - which brings Dofasco Inc....
SEOUL AFP — South Korean steel giant POSCO swapped stakes Monday with Hyundai Heavy industries, the world's largest shipyard, to strengthen its defences against any hostile takeover. The world's third largest steelmaker has engaged in cross-shareholding deals with friendly firms since it emerged as a possible target for a...
Mar. 31--MUMBAI, India -- A day after the four suitors presented their bids for Mitsui Corp's 51 percent stake in Sesa Goa, the iron-ore major's stock tanked by over 3 percent to Rs 1,742 on the BSE on Thursday, even while the Sensex bounced back by 95...
Chicago-based Esmark Inc. said Tuesday that it has submitted a bid to purchase the Sparrows Point steel plant from Mittal Steel Co. NV. Esmark spokesman Bill Keegan told The Daily Record that his company was one of "a number" of bidders for the mill, which last month was...
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BEIJING AFP — Arcelor Mittal, the world's largest steel maker, has been asked by Chinese authorities to raise its bidding price for a stake in China's Laiwu Steel Corp, a company source said Tuesday. "Authorities want the price to be reviewed," a source with the Luxembourg-based company told AFP...
With a plant sale out of the question, the president of Mittal Weirton's Independent Steelworkers Union said the focus now is on transforming the near 100-year-old mill into the nation's premier tin producer.ISU President Mark Glyptis said senior executives told him Weirton is now part of Mittal's overall corporate strategy...
PARIS AFP — The global steel giant Arcelor Mittal said on Friday that it intended to invest 2.2 billion dollars (1.69 billion euros) in developing an iron mine and infrastructure in Senegal, considering West Africa to be a major centre for its mineral supplies. The investment plan covers development...
A U.S. Department of Justice decision that Arcelor Mittal must sell its Maryland plant to satisfy competitive issues stemming from the merger of the two steel giants leaves workers at its Weirton plant questioning what the future now holds for them.Mittal had made no secret of its preference to jettison...
SEOUL, Feb 23, 2007 AFP — South Korea's POSCO, the world's third largest steelmaker, said Friday its shareholders have approved a proposal to ease rules on new share sales in an attempt to forestall hostile takeover attempts. At an annual meeting shareholders also approved a revision to corporate articles....
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WASHINGTON AFP — The US Justice Department said that it would require European steel giant Arcelor Mittal to divest a large US steel mill located near Baltimore, Maryland, to resolve concerns about its recent merger. Mittal Steel acquired European steelmaker Arcelor last summer in a 32.5-billion-dollar deal. The deal...
SEOUL AFP — A senior executive from the world's biggest steelmaker Arcelor Mittal will visit South Korea this week for talks on cooperation with South Korean steel giant POSCO, according to officials. Roland Junck, a member of the Arcelor Mittal management committee and CEO until last November, is to...
MONROVIA AFP — The world's largest steelmaker, Arcelor Mittal, signed an iron ore mining contract with Liberia that promises to pour more than a billion dollars (760 million euros) in investment into the war-ravaged state. "This is a landmark project for both Liberia and for Mittal Steel," said the head...
