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ArcelorMittal SA (ISPA.AS)

ISPA.AS on Amsterdam Stock Exchange

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Latest Key Developments (Source: Significant Developments)

ArcelorMittal USA intends to enter into new revolving credit facility
Sunday, 3 Apr 2016 08:00pm EDT 

ArcelorMittal SA:Arcelormittal USA intends to enter into new, five-year senior secured asset-based revolving credit facility.Five-Year senior secured asset-based revolving credit facility of up to $1 billion.This facility will be secured by inventory and certain other working capital and related assets of Arcelormittal USA and certain of its subsidiaries in united states.Expected to close in Q2 of 2016.Facility will be used for general corporate purposes of Arcelormittal USA and its subsidiaries.Facility is not being guaranteed by Arcelormittal.  Full Article

ArcelorMittal successfully completes its c. $3 bln rights issue
Sunday, 3 Apr 2016 08:00pm EDT 

ArcelorMittal SA:Announced the successful completion of its c. $3 billion rights issue.Total subscription rate of 126.9 pct (including oversubscription).Post capital increase, ArcelorMittal's issued share capital will consist of 3,065,710,869 shares without nominal value.  Full Article

ArcelorMittal to sell U.S. facilities LaPlace and Vinton Long Carbon
Thursday, 24 Mar 2016 09:00am EDT 

ArcelorMittal SA:Agrees to sell its LaPlace and Vinton Long Carbon facilities in the United States to affiliate of Black Diamond Capital management.Says terms of transaction are confidential and are not being disclosed.  Full Article

ArcelorMittal SA to shutter Trinidad and Tobago plant - AMMMKT
Monday, 14 Mar 2016 02:31am EDT 

ArcelorMittal SA:ArcelorMittal SA announced plans to permanently shutter its Trinidad and Tobago operations one day after a local industrial court ruled in favor of the nearly 500 workers who had been temporarily laid off, citing a “combination of local and international challenges” as influencing its decision.“As a last resort, ArcelorMittal Point Lisas has recommended a creditors’ voluntary wind-up is undertaken as soon as is legally and operationally practical,” the company said in a statement issued March 11.The subsidiary of the Luxembourg-based steelmaker said that despite its “considerable efforts,” the company had no choice but to close the iron and steel facility, which produces hot-briquetted iron primarily for Caribbean and Central American consumption.The plant had been idled since November, when 480 workers, originally reported as up to 600—were temporarily laid off.The lay-off announcement was renewed on Feb. 3 when 498 workers were laid off until March 13.On March 10, the Industrial Court of Trinidad and Tobago, following a complaint against the company by the local Steel Workers’ Union of Trinidad and Tobago, ruled that ArcelorMittal failed to discuss its temporary cost-cutting plans with the union and its workers before implementing the layoffs.  Full Article

ArcelorMittal announces terms of about USD 3 bln rights issue
Friday, 11 Mar 2016 02:33am EST 

ArcelorMittal SA:7 for 10 rights issue of 1,262,351,531 new shares at a subscription price of 2.20 euro per new share.Subscription price represents a 35.3 pct discount to theoretical ex-rights price, based on closing price of ArcelorMittal shares on Euronext Amsterdam on March 10.Mittal family trust entities have committed to exercise their rights for new shares pro rata to their current shareholding of 37.38 pct.Company and Mittal family trust entities have agreed with underwriters to a 180-day lock-up following settlement of offering.  Full Article

ArcelorMittal SA - Workers strike at ArcelorMittal Mexico plant over job cuts - Reuters News
Friday, 4 Mar 2016 10:23pm EST 

ArcelorMittal SA:Workers at ArcelorMittal's steel plant in western Mexico went on strike on Friday, the company and the national union said, as the industry grapples with a plunge in prices.- RTRS.More than 3,000 workers have gone on strike over job cuts and stopped operations at the plant in Lazaro Cardenas, Michoacan, Ricardo Torres, the head of the local section 271 of the national miners and metal workers union, said.In a statement, the company called the action a blockade, adding that it was illegal and that the company's value chain would be affected.A spokesman did not immediately respond to a request for further comment. Steel companies around the world are contending with sharp price falls and thousands of job cuts in Mexico have been announced in the past year.Global producers appear set for another year of pain in 2016, even as prices start to stabilize due to production cuts.  Full Article

ArcelorMittal sells 35 pct stake in Gestamp Automocion
Friday, 5 Feb 2016 01:00am EST 

ArcelorMittal SA:Sells its 35 pct stake in Gestamp Automocion for 875 million euros.‍Transaction is unconditional and payment is expected to be made to Arcelormittal within six months​.‍In addition to cash consideration, Arcelormittal will receive a payment of 10 million euros as a 2015 dividend.  Full Article

ArcelorMittal gives EBITDA guidance for 2016
Friday, 5 Feb 2016 01:00am EST 

ArcelorMittal SA:EBITDA is expected to sequentially decline in Q1 2016‍​.Company expects FY 2016 EBITDA to be in excess of $4.5 billion.  Full Article

ArcelorMittal plans $3 billion capital increase
Friday, 5 Feb 2016 01:00am EST 

ArcelorMittal SA:Planned to raise $3 billion in fresh capital in a bid to reduce debt in the face of weak steel and mining sectors.  Full Article

ArcelorMittal SA idles steel plant in Spain - Reuters
Monday, 25 Jan 2016 05:07am EST 

ArcelorMittal SA:ArcelorMittal has idled its steel plant in Sestao, Spain due to "extremely adverse" market conditions, a company spokesman said on Monday, citing tumbling steel prices and record Chinese imports. - RTRS.The plant, which has a 1.5 million tonne per year capacity, will be idled indefinitely. Arcelormittal is the world's biggest steelmaker, producing some 5-6 percent of the world's steel. - RTRS.  Full Article


ArcelorMittal South Africa to pay record $110 million to settle anti-trust charges

JOHANNESBURG ArcelorMittal's South African unit has agreed to pay a record 1.5 billion rand ($110 million) fine for colluding to fix steel prices, the competition watchdog said on Monday.