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ArcelorMittal SA (MT)

MT on New York Consolidated

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23 Jun 2017
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Latest Key Developments (Source: Significant Developments)

ArcelorMittal led consortium reaches agreement regarding Ilva lease and purchase agreement
Friday, 16 Jun 2017 11:01am EDT 

June 16 (Reuters) - ARCELORMITTAL SA ::INVESTCO ITALY SRL HAS CONCLUDED EXCLUSIVE NEGOTIATION PHASE AND REACHED BINDING AGREEMENT CONCERNING LEASE AND OBLIGATION TO PURCHASE ILVA S.P.A AND ITS SUBSIDIARIES WITH ITALIAN GOVERNMENT.IDENTIFIED SYNERGIES OF EUR 310 MILLION TARGETED BY 2020.PURCHASE PRICE OF EUR 1.8 BILLION, WITH ANNUAL LEASING COSTS OF EUR 180 MILLION TO BE PAID IN QUARTERLY INSTALLMENTS.START OF LEASE EXPECTED AROUND YEAR-END 2017.LEASE PERIOD TO BE MINIMUM OF TWO YEARS.INVESTMENTS OF C. EUR 2.4 BILLION (C. EUR 2.1 BILLION NET OF RIVA GROUP CONTRIBUTION) OVER A SEVEN-YEAR PERIOD.ILVA EXPECTED TO BE EBITDA ACCRETIVE TO ARCELORMITTAL IN YEAR ONE, AND FREE CASH FLOW ACCRETIVE IN YEAR THREE.INTESA SANPAOLO WILL FORMALLY JOIN CONSORTIUM BEFORE TRANSACTION CLOSING.FINISHED STEEL SHIPMENTS TO SYSTEMATICALLY INCREASE TO 9.5 MILLION TONNES, BY 2023.EUR 10 MILLION START-UP INVESTMENT IN NEW RESEARCH AND DEVELOPMENT (RESEARCH AND DEVELOPMENT) CENTRE IN TARANTO.ASSETS WILL BE TRANSFERRED TO AM INVESTCO FREE OF LONG TERM LIABILITIES AND FINANCIAL DEBT AND INCLUDES EUR 1 BILLION OF NET WORKING CAPITAL.  Full Article

Andritz to supply two walking beam furnaces to Arcelormittal Burns Harbor, USA‍​
Wednesday, 7 Jun 2017 02:26am EDT 

June 7 (Reuters) - ANDRITZ AG ::TO SUPPLY TWO WALKING BEAM FURNACES TO ARCELORMITTAL BURNS HARBOR, USA‍​.START-UP OF THE FURNACES, WHICH WILL REPLACE THE EXISTING PUSHER FURNACES, IS SCHEDULED FOR 2020.  Full Article

ArcelorMittal Q1 net result turns to profit of $1.00 billion
Friday, 12 May 2017 01:11am EDT 

May 12 (Reuters) - ArcelorMittal ::Q1 NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT $ 1,002 MILLION VERSUS LOSS OF $416 MILLION YEAR AGO.EBITDA OF $2.2 BILLION IN 1Q 2017, 34.3% HIGHER AS COMPARED TO $1.7 BILLION IN 4Q 2016.Q1 EBITDA/TONNE $ 106 VERSUS $43 YEAR AGO.Q1 SALES $ 16.09 BILLION VERSUS $16.68 BILLION IN REUTERS POLL.Q1 OWN IRON ORE PRODUCTION 14.0 MT VERSUS 14.1 MT YEAR AGO.Q1 IRON ORE SHIPPED AT MARKET PRICE 8.7 MT VERSUS 7.8 MT YEAR AGO.Q1 CRUDE STEEL PRODUCTION 23.6 MT VERSUS 23.2 MT YEAR AGO.Q1 STEEL SHIPMENTS 21.1 MT VERSUS 21.4 MT IN REUTERS POLL.EXPECT MARKET CONDITIONS TO BE BROADLY STABLE IN Q2.  Full Article

Bekaert and ArcelorMittal extend their partnership in Brazil
Wednesday, 26 Apr 2017 07:00am EDT 

April 26 (Reuters) - NV Bekaert SA ::Bekaert and ArcelorMittal <<>> extend their partnership in Brazil.Bekaert and ArcelorMittal reached agreement on integration of co's currently wholly-owned subsidiary in Sumare (Brazil) into BMB (Belgo Mineira Bekaert Artefatos de Arame Ltda) partnership.ArcelorMittal will be the majority shareholder (55.5 pct) of the steel cord entity in Sumare and Bekaert will hold the remaining shares (44.5 pct).Transaction is subject to customary closing conditions and is expected to be completed in the Q2 of 2017.  Full Article

Arcelormittal and Marcegaglia submit offer for Ilva
Monday, 6 Mar 2017 08:30am EST 

Arcelormittal : Co and Marcegaglia submit offer for Ilva . Announces investment commitments of over 2.3 billion euros ($2.44 billion) in addition to the purchase price . Affirms intention to produce 9.5 million tonnes of finished products . Commits to build research and development centre in Taranto . Says dedicated research and development centre to be launched with initial investment of 10 million euros . Commits to implement new low-carbon steel-making technologies .Says a letter of intent to join consortium signed with Banca Intesa Sanpaolo Arcelormittal and Marcegaglia announce they have today submitted an offer for Ilva, Italian steel-making company.  Full Article

Arcelormittal's Board of Directors takes note of Wilbur Ross' resignation from Board after his confirmation as US Secretary of Commerce
Wednesday, 1 Mar 2017 04:10am EST 

Arcelormittal SA :Arcelormittal's Board Of Directors has taken note of Mr. Wilbur Ross' resignation from Board as a consequence of his confirmation as US Secretary of Commerce.  Full Article

Arcelormittal Brasil and Votorantim combine Brazilian long steel businesses
Thursday, 23 Feb 2017 08:24am EST 

Arcelormittal SA : Arcelormittal Brasil and Votorantim sign agreement to combine their Brazilian long steel businesses . Votorantim’s long steel businesses in Brazil, Votorantim siderurgia, will become a subsidiary of Arcelormittal Brasil .Votorantim to hold a minority stake in Arcelormittal Brasil.  Full Article

Arcelormittal Q4 net profit at $403 million, beats Reuters poll
Friday, 10 Feb 2017 01:00am EST 

Arcelormittal SA : Q4 revenue $14.13 billion versus $14.64 billion in Reuters poll . Q4 EBITDA $1.66 billion versus $1.59 billion in Reuters poll . Q4 EBITDA/tonne 83 $/t versus 56 $/t year ago . Q4 net profit attributable to equity holders of the parent $403 million versus $229.4 million in Reuters poll . Q4 own iron ore production 13.9 Mt versus 15.5 Mt year ago . Q4 iron ore shipped at market price 8.1 Mt versus 9.9 Mt year ago . Q4 crude steel production 21.8 Mt versus 21.6 Mt year ago . Q4 steel shipments 20.0 Mt versus 19.7 Mt year ago . Says Capex spend in 2017 is expected to increase to $2.9 billion (from $2.4 billion in 2016) . In 2017 interest expense is expected to decline to $0.9 billion (as compared to $1.1 billion in fy 2016) . In 2017 cash taxes and contributions to fund pensions are expected to increase by a total of $0.2 billion .Expects the cash needs of the business in 2017 to increase to $5.0 billion (from $4.5 billion in 2016).  Full Article

Air Liquide strengthens partnership with ArcelorMittal in France, Benelux
Monday, 9 Jan 2017 11:38am EST 

Air Liquide SA : Strengthens its long-term partnership with ArcelorMittal in France and Benelux .In the frame of this new contract, Air Liquide will extend its pipeline network in Benelux.  Full Article

Arcelormittal signs an order with STX France
Monday, 21 Nov 2016 06:00am EST 

Arcelormittal : Arcelormittal signs an order with STX France an order for the supply of steel for two new vessels . Deliveries of Arcelormittal products will run until the end of 2018 for both vessels Further company coverage: [ISPA.AS] (Gdynia Newsroom) ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

More From Around the Web

BRIEF-Bekaert and ArcelorMittal successfully close Sumaré deal

* REG-BEKAERT AND ARCELORMITTAL SUCCESSFULLY CLOSE SUMARÉ DEAL