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ArcelorMittal SA (ISPA.AS)

ISPA.AS on Amsterdam Stock Exchange

26 Sep 2016
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Latest Key Developments (Source: Significant Developments)

ArcelorMittal to convert notes into new ordinary shares
Tuesday, 12 Jan 2016 07:00pm EST 

ArcelorMittal SA:Announced the issue on Jan. 15 of 137,967,116 new ordinary shares.Issue is upon conversion of the 88,182,131 outstanding 6 pct Mandatorily Convertible Subordinated Notes due Jan. 15.  Full Article

ArcelorMittal SA - Giant steelmaker lays off 600 workers in Trinidad and Tobago - EFEING
Tuesday, 8 Dec 2015 01:03pm EST 

ArcelorMittal SA:ArcelorMittal, has temporarily laid off more than 600 employees at its subsidiary in Trinidad and Tobago, the SWUTT steel workers union said Tuesday, calling for government action - EFEING.The decision came Monday "only 15 minutes after" a meeting with company management in Point Lisa, south of Port-of-Spain, SWUTT said in a statement. - EFEING."To date, we, the Recognized Majority Union, have not received any official correspondence on the lay-off of these 600-plus workers," SWUTT said. - EFEING.The laid-off workers, who are scheduled to be recalled to work on Jan. 15, are expected to receive a stipend of roughly $300 each in lieu of the wages they would have been paid. - EFEING.Before resorting to layoffs, management proposed putting the workers on mandatory vacation, an idea rejected by SWUTT "because vacation was the individual entitlement and right of each worker." - EFEING.SWUTT asked Prime Minister Keith Rowley and Labor Minister Jennifer Baptiste-Primus "to intervene in this matter." EFE - EFEING.  Full Article

ArcelorMittal extends conversion date for $1 bln mandatory convertible bond
Monday, 23 Nov 2015 01:00am EST 

ArcelorMittal SA:Extends conversion date for $1 billion mandatory convertible bond.Mandatory conversion date of bond has been extended to Jan. 31, 2018.Other main features of mandatory convertible bond remain unchanged.  Full Article

ArcelorMittal SA Bosnia unit to trim output, may cut workforce - Reuters
Friday, 20 Nov 2015 01:43pm EST 

ArcelorMittal SA:The Bosnian steelmaking unit of ArcelorMittal ISPA.AS is to trim its output by 20 percent over the next two months and might also cut its workforce, due to low steel prices and a tax row involving its iron ore supplier, another unit of the group - RTRS.One of Bosnia's top exporters, the steel maker, based in the central town of Zenica, and its partner, iron ore mine ArcelorMittal Prijedor, employ 3,300 people - RTRS.Jelaca said the company was trying to find a solution with the tax administration and anyway expected the ruling to be overthrown in court. "But the future of our workforce will be at stake if we will be forced to pay this amount," Jelaca said - RTRS.He said the mine might make redundant 800 employees, while Bozic-Srdanovic said 1,700 out of 2,400 employees of ArcelorMittal Zenica may lose their jobs if the company runs short of iron ore - RTRS.  Full Article

ArcelorMittal SA to cut up to 450 jobs, slash exports from Liberia - Reuters
Wednesday, 18 Nov 2015 10:19am EST 

ArcelorMittal SA:ArcelorMittal plans to cut up to 450 jobs in Liberia and lower iron ore exports from the West African nation as it battles to reduce costs, the world's largest producer of steel said - RTRS.ArcelorMittal Liberia said its executives met with union leaders earlier this week to inform them of the pending layoffs - RTRS."We deeply regret that the current economic environment is not allowing us to maintain employment at the current level," Michel Prive, chief executive of ArcelorMittal Liberia, said in the statement emailed late on Tuesday - RTRS.  Full Article

ArcelorMittal gives positive FY 2016 EBITDA guidance
Friday, 6 Nov 2015 01:00am EST 

ArcelorMittal SA:Expects to improve EBITDA in 2016 by $1 billion relative to the Q4 2015 run-rate level.  Full Article

ArcelorMittal and IMETAL restructure 3 Algerian subsidiaries
Wednesday, 7 Oct 2015 06:00am EDT 

ArcelorMittal SA:ArcelorMittal and IMETAL, an Algerian state-owned company, reach an outline agreement.Agreement is for restructuring of shareholding of companies ArcelorMittal Algeria, ArcelorMittal Pipes & Tubes Algeria and ArcelorMittal Tebessa.Restructuring plan will see ArcelorMittal transfer its minority shareholding in both ArcelorMittal Algeria and ArcelorMittal Tebessa.Restructuring plan will see ArcelorMittal transfer its majority participation in ArcelorMittal Pipes & Tubes Algeria, with state of Algeria controlling full shareholding of these entities.This agreement will allow Algerian party to have total control of the three companies.ArcelorMittal will continue its technical support for implementation of El Hadjar Complex development plan.Parties aim to finalize agreements within coming weeks.  Full Article

ArcelorMittal to invest in refurbishment of coke oven batteries
Wednesday, 23 Sep 2015 08:05am EDT 

ArcelorMittal SA:To invest over 100 million euros in the refurbishment of the coke oven batteries in Gijon, Spain.Refurbishment work will start in mid-2016 and coke oven batteries are expected to reach full capacity in 2019.Project also includes a series of additional investments to be carried out in other facilities.  Full Article

ArcelorMittal supplies marine steel for Shetland Islands project
Monday, 14 Sep 2015 04:54am EDT 

ArcelorMittal SA:ArcelorMittal has supplied 3,200 tonnes of new steel grade AMLoCor blue 320 as part of a project to develop Holmsgarth Quay at port of Lerwick in the Shetland Islands.Contractor Tulloch Developments chose ArcelorMittal to supply 3,600 tonnes of sheet piles – including 3,200t of corrosion-resistant AMLoCor – to develop the Quay’s main wall and anchor wall.  Full Article

ArcelorMittal gives FY 2015 outlook in line with analysts' estimates
Friday, 31 Jul 2015 01:03am EDT 

ArcelorMittal SA:Expects FY 2015 EBITDA within range of $6.0 to $7.0 bln.FY 2015 EBITDA $6,191 mln - Thomson Reuters I/B/E/S.  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.