Arcelor Mittal

ArcelorMittal Krivoi Rog reequips bar-rolling mill

“ArcelorMittal Krivoi Rog” has held capital repair of the reheating furnace of the mill MC 250-3 at the long product rolling mill No1. An updated furnace will enable correct heating of steel feed and have positive influence on the efficiency of operation of the complex, the press-service of the enterprise states.

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Bar-rolling mill is suspended for 2 weeks, “ArcelorMittal Temirtau”

Iron-and-Steel works “ArcelorMittal Temirtau” has suspended the bar-rolling mill for capital repair. It will last 15 days. Within this period the enterprise plans to fulfill large volume of operation both at the bar-rolling mill and reheating furnace.
“Main job includes the repair of the furnace hearth and its cooling system. There will be replaced the channels of the furnace and the ones for scale flushing under the rolling mill.

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Net profit of ArcelorMittal Krivoi Rog made up $55 mln in 2015

​In 2015 the net profit of ArcelorMittal Krivoi Rog made up 1 bln 380 mln grivnas.
In 2014 Krivorozhsteel made up 1 bln 180 mln grivnas of net loss.
The net profit of ArcelorMittal Krivoi Rog from the sale of products in 2015 grew from 36 bln 740 mln to 46 bln 260 mln grivnas. The amount of capital investment doubled to 5.17 bln grivnas.
According to the CEO, P. Kalon, 2015 became extremely complicated for the mining and metallurgical sectors. The prices for metal products fell by more than 50%, for iron ore – by 3 times, and the devaluation of the Russian rouble worsened the situation.
Until 2020 the head company will additionally direct $1.2 bln for the realization of a large-scale investment program of ArcelorMittal Krivoi Rog which unites all key directions of activity.
Many investment projects will be continued in 2016.
In 2015 ArcelorMittal Krivoi Rog reduced the output of finished rolled products by 5% to 5.28 mln tons. Steel making fell by 3.8% to 6.06 mln tons, cast iron- by 0.6% to 5.51 mln tons in 2015.

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ArcelorMittal has announced of additional issue for $3 bln

ArcelorMittal has announced of the conditions of subscription for the additional issue of shares for the total amount of $3 bln.
The company’s shareholders have the priority right to purchase the shares at 2.2 euro (with a 35% discount to the listing on the Euronext stock exchange in Amsterdam as of March 10th).
The Mittals state of the readiness to use the right for the purchase of new shares proportionally to their 37.38% stake in the company.
ArcelorMittal and the Mittals have also agreed with underwriters on a 180-day lock-up after the purchase-and-sale of shares.
The subscription for the new shares expires on March 14th 2016 at the completion of trades on NY stock exchange and other markets. The buyers of security papers can use their right until March 29-30th 2016.

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In February, ArcelorMittal Krivoy Rog became the largest recipient of VAT refund in the industry

In February 2016, the largest recipient of VAT refund among enterprises of the mining and metallurgical complex of the Ukraine became metallurgical plant ArcelorMittal Krivoy Rog, which received 1.188 billion hryvnias.
According to the State Treasury, Dneprovsky Dzerzhinsky metallurgical complex is at the second place with 611 million hryvnias, and Zaporozhstal is at the third place with 350.8 million hryvnias.

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ArcelorMittal Temirtau is about to increase the mill-1700 productivity and reduce prime cost

Iron-and-Steel works “ArcelorMittal Temirtau” will continue the modernization of equipment at sheet rolling shop №1 (rolling mill-1). The company's plans for 2016 includes repair of mill stands No 6, 7, 9 and 10 of the hot rolling mill-1700, the press service of the steelmaker reports.
“The project will raise the productivity of the mill and reduce emergency downtime and getting stuck in finishing trains and increase the rolling speed,” is said in a statement.

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Severstal leaves ArcelorMittal behind

While steel companies all over the world suffer from record high increase of Chinese export of steel and slowdown in global economy, Russian companies succeed due to the devaluated rouble, Bloomberg writes.
“Russian companies pay salary and bear expenses in rouble, but receive dollars and Euros from an export of products,” the edition writes.

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ArcelorMittal puts up for sale 3 plants in the USA

​ArcelorMittal group has confirmed its intention to sell a part of its assets in the USA: the enterprises specializing in the output of long products - LaPlace, Steelton and Vinton.
The most attractive among these 3 assets is Steelton in Pennsylvania. This mini-plant with the capacity of 1 mln metric tons a year is one of the 3 plants in Americas able to produce railway rails. Its assortment also comprises bloom and special sort-rolled products for railway manufacturing. The LaPlace mini-plant in Louisiana an annually cast up to 620 thousand tons of steel and produce up to 480 thousand tons of fittings and shape steel –rolled stock. The Vinton mini-plant is located in Texas, has a capacity of up to 320 thousand tons a year and produces fittings and grinding balls.
ArcelorMittal doesn’t release either the details of the deal or possible buyers, or future fate of the enterprises if they are not sold in the near future. However, in March 2015 the corporation terminated the output of sort-rolled products at its largest US metallurgical plant Indiana Harbor and in August closed the line on the hot-rolled rod at the Georgetown plant in South Carolina. ArcelorMittal ended 2015 with a $7.9 bln loss, its subdivision in North America ended Q4 2015 with the operational loss of $741 mln.

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In 2015, net less of ArcelorMittal grew over 7 times

In 2015, ArcelorMittal Steel made the net loss in the amount of $7.9 billion against $1.09 billion of the net loss in 2014, the company reports.
The adjusted net loss made up $300 million against $400 million of the adjusted net income in 2014.

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Steel production to be up by 14%, “ArcelorMittal Temirtau”

In 2016, Iron and Steel Works “ArcelorMittal Temirtau” is about to increase steel production and sales. Modernization of agglomeration production and the fourth blast furnace is also in the plans of the company, the press service of the company states.
“We will continue to work on the three blast furnaces with an optimal load. It will provide reliability and stability of production, help to increase the share of presence of metallurgical plant in the domestic market and increase the sale volume in the CIS and non-CIS countries’ markets.

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