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ArcelorMittal South Africa Ltd (ACLJ.J)

ACLJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Arcelormittal South Africa Says CFO Dean Subramanian To Leave
Tuesday, 8 May 2018 09:30am EDT 

May 8 (Reuters) - ArcelorMittal South Africa Ltd ::RESIGNATION OF CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR.PROCESS TO FIND SUCCESSOR WILL COMMENCE IMMEDIATELY AND COMPANY WILL CONSIDER APPROPRIATE INTERNAL AND EXTERNAL CANDIDATES.DEAN SUBRAMANIAN TO RESIGN AS CFO AND EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA WITH EFFECT FROM 31 JULY 2018.  Full Article

Arcelormittal South Africa Says ‍Board Accepts Nomination Of Brian E. Aranha To Replace Henri Blaffart
Tuesday, 20 Mar 2018 08:00am EDT 

March 20 (Reuters) - Arcelormittal South Africa Ltd ::‍BOARD HAS ACCEPTED ARCELORMITTAL GROUP'S NOMINATION, BEING BRIAN E. ARANHA, TO REPLACE HENRI BLAFFART, AS NON-EXECUTIVE DIRECTOR ON BOARD​.  Full Article

Arcelormilttal South Africa Confirms Payment To Competition Commission
Thursday, 15 Feb 2018 02:00am EST 

Feb 15 (Reuters) - Arcelormittal South Africa Ltd ::CONFIRMS PAYMENT TO COMPETITION COMMISSION.REACHED AGREEMENT WITH COMPETITION COMMISSION OF SOUTH AFRICA TO DIVIDE 2017 PAYMENT INTO THREE SEPARATE TRANCHES OF R100 MILLION EACH​.  Full Article

‍ArcelorMittal South Africa Confirms Payment To Competition Commission​
Monday, 18 Dec 2017 07:00am EST 

Dec 18 (Reuters) - Arcelormittal South Africa Ltd ::‍ARCELORMITTAL SOUTH AFRICA CONFIRMS PAYMENT TO COMPETITION COMMISSION​.REACHED AGREEMENT WITH COMMISSION, SUBJECT TO APPROVAL, TO DIVIDE 2017 PAYMENT INTO THREE SEPARATE TRANCHES OF R100 MILLION EACH​.‍REVISED PAYMENT TERMS APPLY ONLY TO FIRST YEAR OF AGREEMENT AND NEXT TWO INSTALMENTS WILL BE MADE ON 1 APRIL 2018 AND 1 JULY 2018​.SET TO PAY AMOUNT OF R1.5 BILLION OVER FIVE YEARS, IN INSTALMENTS OF NO LESS THAN R300 MILLION/ ANNUM. FIRST INSTALMENT WAS DUE ON NOV 16.  Full Article

ArcelorMittal South Africa Appoints Hendrik Verster As CEO
Monday, 11 Dec 2017 07:00am EST 

Dec 11 (Reuters) - Arcelormittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - ‍APPOINTMENT OF HENDRIK JACOBUS "KOBUS" VERSTER AS CEO AND EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA, HAS BEEN APPROVED.- VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018.‍VERSTER WILL JOIN ARCELORMITTAL SOUTH AFRICA ON 2 JANUARY 2018 AS CEO DESIGNATE.‍VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018​.  Full Article

Arcelormittal South Africa says Q3 steel sales of ‍1.07 mln tonnes
Friday, 10 Nov 2017 01:00am EST 

Nov 10 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::Q3 LIQUID STEEL PRODUCTION ‍1,240​,000 TONNES VERSUS 1,115,000 TONNES IN Q3 2016.Q3 STEEL SALES ‍1,065​,000 TONNES VERSUS 950,000 TONNES IN Q3 2016.Q3 EXPORT STEEL SALES 202,000 TONNES VERSUS 136,000 TONNES IN Q3 2016.Q3 COMMERCIAL COKE PRODUCED ‍47​,000 TONNES VERSUS 44,000 TONNES IN Q3 2016 .Q3 COMMERCIAL COKE SALES ‍49​,000 TONNES VERSUS 46,000 TONNES IN Q3 2016 .‍LOCAL SALES WILL CONTINUE TO BE UNDER PRESSURE DUE TO TOUGH TRADING CONDITIONS AS A RESULT OF LOWER STEEL DEMAND IN Q4​.SAYS ‍EXPORT SALES WILL ALSO BE HIGHER DUE TO BETTER INTERNATIONAL PRICES IN Q4​.‍VOLATILITY IN RAND/US DOLLAR EXCHANGE RATE WILL CONTINUE TO HAVE AN IMPACT ON CO'S FINANCIAL RESULTS IN Q4​.  Full Article

Arcelormittal South Africa says Wim De Klerk to retire as CEO and executive director​
Tuesday, 24 Oct 2017 04:13am EDT 

Oct 24 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::‍WIM DE KLERK HAS INFORMED ARCELORMITTAL SOUTH AFRICA BOARD OF HIS WISH TO RETIRE AS CEO AND AN EXECUTIVE DIRECTOR​.‍WIM DE KLERK HAS INFORMED BOARD OF HIS WISH TO RETIRE AS CHIEF EXECUTIVE OFFICER (CEO) AND AN EXECUTIVE DIRECTOR.​.‍BOARD WILL IMMEDIATELY IMPLEMENT A PROCESS TO IDENTIFY A SUITABLE SUCCESSOR​.ARCELORMITTAL SOUTH AFRICA - ‍WIM DE KLERK WILL STEP DOWN AS CEO, EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA WITH EFFECT FROM 31 JANUARY 2018​.  Full Article

Arcelormittal Aouth Africa says to review staffing levels
Tuesday, 15 Aug 2017 11:00am EDT 

Aug 15 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::RESTRUCTURING AS A RESULT OF OPERATIONAL REQUIREMENTS.SAYS ALL OPTIONS ARE BEING EXPLORED AND COMPANY HAS NO OPTION BUT TO ALSO REVIEW ITS STAFFING LEVELS.SAYS CO WILL BE COMMENCING WITH CONSULTATION PROCESS BASED ON ITS OPERATIONAL REQUIREMENTS WHICH RELATE TO ITS ECONOMIC AND STRUCTURAL NEEDS.SAYS DIFFICULT TO ESTIMATE NUMBER OF EMPLOYEES WHO MAY EVENTUALLY BE AFFECTED AS A RESULT OF PROPOSED RESTRUCTURING (BUT IT IS ANTICIPATED TO BE MORE THAN 50 EMPLOYEES).  Full Article

BRIEF-ArcelorMittal South Africa says to review staffing levels
Tuesday, 15 Aug 2017 11:00am EDT 

Corrects company name in headline:RESTRUCTURING AS A RESULT OF OPERATIONAL REQUIREMENTS.SAYS ALL OPTIONS ARE BEING EXPLORED AND COMPANY HAS NO OPTION BUT TO ALSO REVIEW ITS STAFFING LEVELS.SAYS CO WILL BE COMMENCING WITH CONSULTATION PROCESS BASED ON ITS OPERATIONAL REQUIREMENTS WHICH RELATE TO ITS ECONOMIC AND STRUCTURAL NEEDS.SAYS DIFFICULT TO ESTIMATE NUMBER OF EMPLOYEES WHO MAY EVENTUALLY BE AFFECTED AS A RESULT OF PROPOSED RESTRUCTURING (BUT IT IS ANTICIPATED TO BE MORE THAN 50 EMPLOYEES).  Full Article

ArcelorMittal South Africa H1 liquid steel production down to 2.4 mln tonnes
Thursday, 27 Jul 2017 01:05am EDT 

July 27 (Reuters) - Arcelormittal South Africa Ltd ::H1 LIQUID STEEL PRODUCTION 2.4 MILLION TONNES VERSUS 2.5 MILLION TONNES YEAR AGO.ARCELORMITTAL SOUTH AFRICA'S OPERATING AND HEADLINE LOSSES INCREASED BY R714 MILLION AND R1 161 MILLION RESPECTIVELY IN FIRST HALF OF YEAR.H1 TOTAL SALES VOLUMES 2.1 MILLION TONNES VERSUS 2.2 MILLION TONNES YEAR AGO.HY CASH COST PER TONNE OF LIQUID STEEL PRODUCED INCREASED BY 27 pct TO R8 063.H1 HEADLINE LOSS PER SHARE OF 148 CENTS.HY LOSS FROM OPERATIONS INCREASED BY R714 MILLION TO R983 MILLION, PRIMARILY DUE TO HIGHER COAL AND IRON ORE PRICES.HY LOSS FOR PERIOD INCREASED BY R1 773 MILLION.HY REVENUE INCREASED BY 12.6% TO R19 151 MILLION MAINLY DUE TO AN 18.9 pct INCREASE IN AVERAGE NET REALISED STEEL PRICES.H1 AVERAGE NET REALISABLE PRICE 8,138 RAND/TONNE VERSUS 6,845 RAND/TONNE YEAR AGO.IMPAIRMENT OF R600 MILLION WAS RECOGNISED IN PERIOD AGAINST PROPERTY, PLANT AND EQUIPMENT FOR LONG PRODUCTS UNIT.ARCELORMITTAL SOUTH AFRICA - IN H2, DOMESTIC STEEL DEMAND IS EXPECTED TO REMAIN SUBDUED DUE TO LOW ECONOMIC GROWTH AND LACK OF INFRASTRUCTURE SPEND.ARCELORMITTAL SOUTH AFRICA - SAYS SECOND HALF OF YEAR, DOMESTIC STEEL DEMAND IS EXPECTED TO REMAIN SUBDUED DUE TO LOW ECONOMIC GROWTH AND LACK OF INFRASTRUCTURE SPEND.VOLATILITY IN RAND/US DOLLAR EXCHANGE RATE WILL CONTINUE TO HAVE A MATERIAL IMPACT ON OUR FINANCIAL RESULTS.FOR H2 EXPORT MARKETS LIKELY TO BE MORE RESILIENT; AFRICA WILL EXPERIENCE A GROWTH IN DEMAND IN ORDER OF 2.3%.  Full Article