BRUSSELS, Feb 5- ArcelorMittal, the world's largest steelmaker, launched plans on Friday for a $3 billion share issue to help reduce debt and cut costs, having been hit by a plunge in steel prices which it blamed on a surge in cheap exports from China. The company, twice the size of its nearest rival, reported that its core profit dropped by 32 percent last year to $5.2...
BRUSSELS, Feb 5- ArcelorMittal, the world's largest steelmaker, launched plans on Friday to raise $3 billion from a share issue to reduce debt, as it continues to suffer from the Chinese industry's overcapacity which it says has driven down world prices. Chief Executive Lakshmi Mittal said that 2015 had been a very difficult year for the steel and mining...
LUXEMBOURG— The world's largest steel producer, ArcelorMittal, says it hopes to raise $3 billion in fresh capital and sell a minority stake in automotive engineering company Gestamp to reduce its debt, amid a troubled outlook for the global industry. CEO Lakshmi Mittal said Friday the Luxembourg- based company hopes to reduce net debt to less than $12 billion.
Eike Batista declared in 2011 that he would soon become the richest man in the world. Instead, he may become known for the largest personal-wealth loss.
*Proposes dividend of $0.20 from 2013, vs $0.75 in 2012. BRUSSELS, Oct 31- ArcelorMittal, the world's largest steelmaker, plans to slash its dividend and focus on cutting debt after slowing demand from China and sluggish European markets drove it to a third-quarter loss.
BRUSSELS, Oct 31- ArcelorMittal, the world's largest steelmaker, said it would slash its dividend and focus on cutting debt after slowing demand from China and sluggish European markets drove it to a third-quarter loss.
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*ArcelorMittal will look to move workers to new jobs. By Vincent Kessler FLORANGE, France, Oct 1- Steelmaker ArcelorMittal.
FLORANGE, France, Oct 1- Workers occupied the site of two idle ArcelorMittal steel furnaces in northeastern France on Monday as management and unions met in Paris to decide the fate of a plant that has become a symbol of the country's industrial decline.
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Aditya Mittal has taken charge of ArcelorMittal’s biggest and most problematic unit in a move seen by analysts as paving the way for him to eventually succeed his father, Lakshmi, as chief executive of the world’s biggest steelmaker. The FT reports.