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11 Jan 2024

Steel Magnate To Billionaire,The Saga Of Lakshmi Mittal's Rise Global Business

Lakshmi Mittal, the Indian-born steel magnate, achieved global success by transforming his family's steel business into the world's largest steel producer, ArcelorMittal, through strategic acquisitions and efficient management.

07 May 2020

ArcelorMittal reports USD 1.1 bn net loss in Jan-Mar quarter

The world's largest steelmaker had posted a net income of USD 0.4 billion in the year-ago quarter, the company said in a statement.

18 Nov 2019

Tata Steel plans to cut jobs, but not in India

Tata Steel plans to cut jobs across its European operations as it wrestles with excess supply and high costs, the company said on Monday.

09 Apr 2019

NCLAT may ask ArcelorMittal to deposit Rs 42,000 cr bid amount

A two-member bench headed by Chairman Justice S J Mukhopadhaya said that ArcelorMittal may have to deposit the money in a separate account either before the NCLAT or NCLT Ahmedabad-bench.

18 Mar 2019

NCLAT gives conditional nod to ArcelorMittal's Rs 42K cr plan for Essar Steel

A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.

04 Oct 2018

SC grants one more opportunity to ArcelorMittal, NuMetal to bid for Essar Stee

The top court asked the Committee of Creditors to take a decision within eight weeks on rival bids of NuMetal and ArcelorMittal for Essar Steel.

10 Sep 2018

ArcelorMittal sweetens offer for Essar Steel;submits revised proposal to CoC

Without disclosing the amount, the Luxembourg-headquarterd firm said that it has submitted a revised proposal to Essar Steel India Ltd's (ESIL) Committee of Creditors (CoC).

03 Mar 2018

ArcelorMittal stands by $1 billion Mexico pledge despite trade threats

ArcelorMittal operates six facilities at three ports in Mexico.

13 Feb 2018

ArcelorMittal, Russia's VTB Group bid for Essar Steel

Founded by Shashi and Ravi Ruia, Essar Steel was referred to the National Company Law Tribunal last year after accumulating nearly Rs 50,000 crore in debts.

05 Dec 2017

ArcelorMittal's Ilva bid stalled, but EU steel to benefit either way

Meanwhile, EU antitrust authorities have opened a full inquiry which is likely to see ArcelorMittal`s junior bid partner, Italian steel processor Marcegaglia, exit the deal to buy Ilva.

16 Nov 2017

ArcelorMittal, Tata Steel evince interest in Bhushan Steel

According to the information on Bhushan Steel Ltd website, the company is the 3rd largest secondary steel producer in the country with an existing steel production capacity of 5.6 million ton per annum.

26 Sep 2017

ArcelorMittal's focus on other assets may hit $1 billion Indian JV

The Luxembourg-based company, known for turning around troubled steel assets, is looking for a foothold in India.

10 Aug 2017

European Union imposes import duties on some Chinese steel to counter subsidies

The European Union has imposed provisional import duties of as much as 28.5 percent on certain Chinese corrosion-resistant steels after an eight-month investigation found that the products benefited from unfair subsidies.

25 Jun 2017

SAIL seeks NITI help to resolve differences with ArcelorMittal

There were differences between the two companies on certain points under the Memorandum of Understanding, so it was decided to extend it for another three months from the deadline of May 31, 2017, the official said.

26 May 2017

ArcelorMittal tipped to take over Italy`s Ilva

24 May 2017

ArcelorMittal agrees on concessions to seal delayed $897 million JV with SAIL

ArcelorMittal, the world`s largest steel producer, said on Wednesday it has agreed to make concessions to Steel Authority of India on technology transfer to seal a delayed $897 million automotive joint venture.

12 May 2017

ArcelorMittal Q1 Net at $1 bn; debt rises to $12.1 bn

The world's largest steelmaker ArcelorMittal on Friday reported a net profit of USD 1 billion for the quarter ended March 31, 2017 but reported a rise in net debt to USD 12.1 billion during the period.

10 Feb 2017

ArcelorMittal posts USD 403 million net profit in December quarter

ArcelorMittal today reported a net profit of USD 403 million for the quarter ended December 2016 on the back of better sales and higher operating income.

22 Sep 2016

China''s Baosteel details Wuhan deal to forge ArcelorMittal rival

China`s Baosteel Group fleshed out its plans to buy rival Wuhan to create the world`s second-largest steelmaker behind ArcelorMittal on Thursday, part of Beijing’s effort to consolidate its fragmented steel industry.

21 Sep 2016

SAIL-ArcelorMittal $1 bn JV to be finalised by December: Govt

The proposed USD 1 billion JV between global steel giant ArcelorMittal and India's largest producer of the metal SAIL will be finalised by December.

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