Arcelor

AM/NS India invests Rs 1K crore for new production line in Gujarat

AM/NS India mentioned that it is already in advanced discussions to supply Magnelis to key players in India's renewable energy and infrastructure sectors

Steel exports from China making business unsustainable: ArcelorMittal

Steel consumption in China could even contract, according to ArcelorMittal, which lowered its 2024 forecast to a range of -1 per cent to +1 per cent

ArcelorMittal highlights low-carbon steel tie-up with Paris Olympics 2024

ArcelorMittal, the steel major owned by Indian entrepreneur Lakshmi Mittal, is showcasing the various facets of its low-carbon steel partnership with the Olympics and Paralympics, kicking off in Paris later this month. The Luxembourg-headquartered company revealed this week that its recycled and renewably-produced XCarb is behind the Torches that have been touring the world, the Olympic Rings that now adorn the French capital's iconic Eiffel Tower landmark and the Agitos symbol of the Paralympics atop the city's Arc de Triomphe. The Paris Olympics 2024 is also setting a new milestone by reusing the Torches for the first time, with a significantly reduced carbon footprint with the production of just 2,000 required as opposed to 12,000 in the past. We think the Games are about sport, but they transcend sport, Ian Louden, the Head of Brand for ArcelorMittal, told reporters in Paris. They go over and above sport itself, trying at least to bring together the world on a platform of equal

Singapore-based Payash Capital objects to Arcelor inclusion in Srei bidding

Singapore-based Payash Capital, a 49 per cent stakeholder in Trinity Alternative Investment Managers Limited (TAIML), has opposed the decision of the administrator to include ArcelorMittal as a bidder for SREI assets under insolvency proceedings. In a letter to the administrator, Rajneesh Sharma, of SREI Infrastructure Finance Limited, Payash Capital said, ArcelorMittal Group is not competent to apply for bid of SIFL since ArcelorMittal has zilch expertise in the field of finance business. TAIML is an investment manager managing AIF (Alternative Investment Fund) that is jointly promoted by SREI Infrastructure Finance Limited (SIFL) with 51 per cent stake, and balance 49 per cent held by Payash Capital Singapore PTE Limited. Payash Capital in the letter dated October 31, 2022 has objected to the inclusion of ArcelorMittal in bidding for SREI assets as it would hinder and disrupt the ongoing recovery proceedings by TAIML against ArcelorMittal. TAIML and ArcelorMittal have been engage

AM/NS India EBITDA drops 62.98% to $204 million in September quarter

ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, reported a 62.98 per cent year-on-year drop (YoY) in EBITDA

Italy files appeal in a bid to stop ArcelorMittal dropping steel deal

The Italian government said it filed a legal appeal on Friday designed to prevent global giant ArcelorMittal from walking away from a 2018 deal to buy Europe's largest integrated steel-making mill. Rome considers the troubled Ilva steel mill in the southern city of Taranto a "strategic" industrial site, Prime Minister Giuseppe Conte said in a statement. "The government will not allow the deliberate closure of the blast furnaces" at the site as it would amount to ending any chance of investment to make the site viable and safeguard some 8,000 jobs, he said. Conte added that if ArcelorMittal walked away from the badly polluted site it would be "a clear violation of contractual commitments and cause grave harm to the national economy." He said the group would "have to answer in the courts" and face paying damages to the Italian state. The Taranto plant in the south of Italy is mired in controversy because experts believe that some 7,500 people have died in the surrounding area as a .

ArcelorMittal wants to sack 5,000 employees: Italian PM Giuseppe Conte

The announcement by ArcelorMittal to pull out of deal to buy Ilva has caused shockwaves in Italy where the deal was expcted to safeguard thousands of jobs

ArcelorMittal will not reverse its Ilva deal decision, says report

Italy's industry minister said earlier the government might draw up a new norm clarifying the legal protection already in place for the steel firm, but the source said this would not suffice