Key Developments: ArcelorMittal SA (ISPA.AS)

ISPA.AS on Amsterdam Stock Exchange

10.98EUR
29 Aug 2014
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Latest Key Developments (Source: Significant Developments)

ThyssenKrupp AG updates on disposal of its U.S. auto steel plant to Nippon Steel & Sumitomo Metal Corp and ArcelorMittal SA combined with contract for ThyssenKrupp CSA in Brazil
Friday, 29 Nov 2013 05:53pm EST 

ThyssenKrupp AG:Says its ThyssenKrupp Steel USA rolling and coating plant in Calvert/Alabama is being sold to a consortium of ArcelorMittal SA and Nippon Steel & Sumitomo Metal Corp (the Consortium).Says it will receive a purchase price of $1.55 billion from the Consortium.Says a long-term slab supply contract has been agreed to secure the value of ThyssenKrupp CSA in Brazil.Says the Consortium will also purchase two million tons of slabs per year from ThyssenKrupp CSA up to 2019.Says the transaction is subject to the approval of regulatory authorities in the USA and a number of other countries.  Full Article

Nippon Steel & Sumitomo Metal Corp and ArcelorMittal SA to buy US auto steel plant -Nikkei
Tuesday, 26 Nov 2013 07:00pm EST 

Nippon Steel & Sumitomo Metal Corp and ArcelorMittal SA:Nippon Steel & Sumitomo Metal and ArcelorMittal will jointly acquire an automotive steel sheet plant in the U.S. from ThyssenKrupp AG, more than doubling the partners' combined production capacity in the country -Nikkei.Deal is expected to reach 200 billion yen ($1.95 billion).Nippon Steel and ArcelorMittal will split the purchase cost evenly, with specifics to be fleshed out and announced in early December.The plant has an output capacity of around 2.2 million tons a year, supplying automotive and construction steel.  Full Article

ArcelorMittal SA Confirms FY 2013 EBITDA Guidance
Wednesday, 6 Nov 2013 07:00pm EST 

ArcelorMittal SA announced that it still expects fiscal year 2013 EBITDA to be greater than USD 6.5 billion. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 EBITDA of USD 6.702 billion.  Full Article

ArcelorMittal SA Announces Supply Agreement With Sishen Iron Ore Company
Tuesday, 5 Nov 2013 09:43am EST 

ArcelorMittal SA announced that its 51% subsidiary, ArcelorMittal South Africa, has reached an agreement with Sishen Iron Ore Company Ltd (SIOC), a subsidiary of Kumba, relating to the long-term supply of iron ore. The agreement, which will become effective from 1 January 2014, allows ArcelorMittal South Africa to purchase up to 6.25 million tonnes a year of iron ore from SIOC, complying with agreed specifications and lump-fine ratios. The price of iron ore sold to ArcelorMittal South Africa by SIOC will be determined with reference to the cost (including capital costs) associated with the production of iron ore from the DMS Plant at the Sishen Mine plus a margin of 20%, subject to a ceiling price equal to the Sishen Export Parity Price at the mine gate.  Full Article

ArcelorMittal SA Sells Etilam to STPI-Les Echos
Sunday, 3 Nov 2013 07:00pm EST 

Les Echos reported that ArcelorMittal SA has sold its subsidiary Etilam, a producer of metal strips, to STPI (Societe Thiernoise de Participations Industrielles), a holding company belonging to Francois Lemasson. The deal is worth approximately EUR 12 million over three years, half of which must be paid in the first year.  Full Article

Striking Dockers at ArcelorMittal SA's Fos-sur-Mer Plant Return to Work-Les Echos
Sunday, 13 Oct 2013 08:00pm EDT 

Les Echos reported that dockers at ArcelorMittal SA's Fos-sur-Mer plant have unanimously voted to return to work as they believe their demands have been met. The dockers went on strike on October 8, 2013, demanding loading bonuses, increased salaries and improved working conditions.  Full Article

ArcelorMittal SA Stops Production at Fos-sur-Mer Plant Due to Dockers' Strike-Reuters
Friday, 11 Oct 2013 05:49am EDT 

Reuters reported that ArcelorMittal SA has stopped production at its Fos-sur-Mer plant as a result of a dockers' strike which is preventing steel leaving the site by ship. Approximately 400 workers have been sent home. A spokesman for the Company said that as its storage capacity was full, there was no option but to stop work on strip rolling and finishing. The dockers, who are members of the CGT trade union, went on strike on October 8, 2013. The strike is set to last indefinitely. The CGT has demanded a 15% pay rise for the dockers, but this demand was judged to be unacceptable by the ArcelorMittal SA management.  Full Article

ArcelorMittal SA Decreases Its Stake in Erdemir from 18.74% to 12.08%
Tuesday, 8 Oct 2013 02:27am EDT 

ArcelorMittal SA announced that it has sold 233,169,183 shares in Eregli Demir ve Celik Fabrikalarl T.A.S. (Erdemir) by way of a single accelerated bookbuilt offering to institutional investors. The sale has generated proceeds of approximately USD 267 million. Prior to the sale, ArcelorMittal SA owned 655,969,154 shares in Erdemir, representing approximately 18.74% of Erdemir's share capital. Following completion of the sale, ArcelorMittal SA will hold approximately 12.08% of Erdemir's share capital. The sale was managed by Citigroup Global Markets Limited acting as Sole Bookrunner.  Full Article

ArcelorMittal SA Signs Strategic Agreement with Sider; Reduces Shareholding in ArcelorMittal Annaba and ArcelorMittal Tebessa to 49%
Sunday, 6 Oct 2013 08:00pm EDT 

ArcelorMittal SA announced that it signed a strategic agreement with Sider, an Algerian state-owned company, on October 5, 2013 that includes an investment plan of USD 763 million for the steel complex at Annaba and the mines in Ouenza and Boukhadra. The plan includes a project to more than double the steel plant’s production capacity from 1 million to 2.2 million tons a year by 2017. The plan will see ArcelorMittal SA reduce its shareholding in both ArcelorMittal Annaba and ArcelorMittal Tebessa to 49%, with the state of Algeria holding the remaining share of 51%. The investment plan will be funded by equity contributions from shareholders and bank financing.  Full Article

ArcelorMittal SA to Supply High-performance Steel Wires for Technip
Thursday, 19 Sep 2013 01:00am EDT 

ArcelorMittal SA announced that it has signed with Technip a five-year contract for the supply of high-performance steel wires. According ot he contract, the Company's site in Bourg-en-Bresse, Rhones-Alpes region, France, part of its Distribution Solutions division, will fabricate highly-resistant, semi-manufactured rolled products to be used on flexible sheaths for the development of oil and gas fields worldwide. The site supplies Technip's manufacturing plants located in France, Brazil and Malaysia. The contract awarded to ArcelorMittal SA by Technip has a value over EUR 200 million.  Full Article

Deals of the day- Mergers and acquisitions

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