Key Developments: ArcelorMittal SA (MT)
12.92USD
23 May 2013
$-0.15 (-1.15%)
$13.07
$12.78
$12.95
$12.71
8,287,370
7,479,755
$17.99
$11.15
Latest Key Developments (Source: Significant Developments)
ArcelorMittal SA's ArcelorMittal Commercial Sections SA to Supply Stalprofil SA with Metallurgical Materials
Stalprofil SA announced that it has signed, as a purchaser, a contract with ArcelorMittal SA's ArcelorMittal Commercial Sections SA for the supply of metallurgical materials. Its total value is PLN 11,173,000. Full Article
ArcelorMittal SA Confirms FY 2013 EBITDA Target and Issues Q2 2013 EBITDA Guidance
ArcelorMittal SA announced that it has reiterated its guidance framework for full year 2013: Assuming that in 2013 iron ore prices and the margin of steel prices over raw material costs are similar to the levels of 2012, the Company expects to report EBITDA above USD 7.1 billion. The Company also announced that EBITDA in the second quarter of 2013 is expected to be above first quarter 2013 levels, which was reported at USD 1.56 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report second quarter 2013 EBITDA of USD 1.67 billion and full year 2013 EBITDA of USD 7.17 billion. Full Article
ArcelorMittal SA Confirms Investigation of German Competition Authority-DJ
Dow Jones reported that ArcelorMittal SA has confirmed that the German cartel authority put under investigation the anti-competition claims related to the delivery of steel to car industry. Full Article
ArcelorMittal SA Completes First Part of Interest Sale in Canadian Joint Venture-DJ
Dow Jones reported that ArcelorMittal SA announced that it has completed the first part of sale of its 15% stake in the Canadian joint venture ArcelorMittal Labrador Trough. The value of the first part amounts up to USD 800 million for the interest of 11.05%. The Company is to receive USD 1.1 billion in total for the sale of 15% stake in joint venture led by POSCO and China Steel Corp. ArcelorMittal Mines Canada will hold an 85% interest in the joint venture. The second part of the sale will take place in the second quarter of the 2013. Full Article
ArcelorMittal SA Announces Detailed Dividend Payment Schedule For FY 2013
ArcelorMittal SA announced that the payment of the fiscal year 2013 annual dividend will occur according to the schedule. The yearly gross dividend per share amounts to USD 0.20 per share will be subject to the shareholders’ approval at the Annual General Meeting of May 8, 2013. The payment of USD 0.20 per share will occur on July 15, 2013. Moreover, the schedule includes the ex-dividend date of May 10, 2013 and record date of May 14, 2013, as well as the date of May 9, 2013 at which the foreign exchange rate is fixed to determine the value in Euros of the dividend, which is announced in US dollars. All data included in the schedule are subject to shareholder approval. Full Article
ArcelorMittal SA Issues FY 2013 EBITDA Guidance In Line With Analysts
ArcelorMittal SA announced that the Company expects to report FY 2013 EBITDA to be higher as compared to FY 2012 EBITDA. The Company reported FY 2012 EBITDA of USD 7.1 billion. According to I/B/E/S estimates the analysts on average are expecting the Company to report FY 2013 EBITDA of USD 8,110.19. Full Article
ArcelorMittal SA Workers Clash With Police In Belgium-DJ
Dow Jones reported that ArcelorMittal SA’s workers in Belgium clashed with police during a protest against the closure of another part of the Company's steel plant in Liege. Ten policemen were injured after confronting about 1,500 protesters demonstrating in front of regional government offices in the Namur, the capital of the Wallonian province where Liege is located. The protesters threw stones and other items at the police who retaliated by using water canons, The demonstrators were calling on the Wallonian government to prevent the partial closure of the plant which has put 1,300 jobs at risk. Last week ArcelorMittal SA announced plans to shut a coke plant and six finishing lines at Liege due to continued weak demand for its steel products. This follows an October 2011 announcement in which the Company said it would permanently close Liege's two blast furnaces. ArcelorMittal SA will still operate five finishing lines at the plant that are deemed to be strategically important for the Company. Full Article
ArcelorMittal SA's ArcelorMittal Liege Announces Plans to Permanently Close Coke Plant and Six Finishing Lines Affecting 1,300 Employees
ArcelorMittal SA's ArcelorMittal Liege announced its intention to permanently close a number of additional assets due to a further weakening of the European economy and the resultant low demand for its products. The Company is proposing that in order to respond to structural market changes and further adapt to demand in Europe, the following six flexible lines need to be closed: the hot strip mill in Chertal, one of the two cold rolling flows in Tilleur, galvanisation lines 4 and 5 in Flemalle, and electrogalvanizing lines HP3 and 4 in Marchin. Separately organic coating line 2 in Ramet will be maintained only as a repairing line for the Combiline products. Additionally, the Company is proposing that the coke plant, which is no longer viable due to the excess supply of coke in Europe, also be permanently closed. The Company stated that the proposal will affect approximately 1,300 people and that it will hold discussions on means to reduce social impact with trade union representatives, including the possibility of reallocation to other sites within the Company. Full Article
ArcelorMittal Bids $1.5 Billion For ThyssenKrupp's Alabama Plant-Reuters
Reuters reported that ArcelorMittal has emerged as contender to acquire ThyssenKrupp AG's steel operations in the United States. ArcelorMittal has submitted a $1.5 billion bid for ThyssenKrupp's plant in Alabama. Full Article
Standard & Poor's Affirms ArcelorMittal SA's Rating-DJ
Dow Jones reported that Standard & Poor's agency has affirmed ArcelorMittal SA's long-term credit rating at BB+ and its short-term corporate credit rating at B. The outlook is negative. Full Article
Cost cuts help ArcelorMittal defy profit warning fears
BRUSSELS - ArcelorMittal , the world's largest steelmaker, defied fears of a profit warning on Friday and kept its earnings forecast for this year, helped by deep cost cutting in Europe. | Video
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