Page 8 - Arcelormittal

ArcelorMittal reports $261 million net loss for September quarter

Global steel giant ArcelorMittal on Thursday posted a net loss of $261 million (around Rs 1,940 crore) for the quarter ended September 30, 2020

ArcelorMittal-Nippon JV launches brands in HR steel, rolled plate segments

Products will be sold via the firm's hypermarkets and will largely target users in the MSME space

Explained: How Uttam Galva Steels lost its sheen amid mounting debts

The promoter group's deal-making capabilities have come back to haunt it

Uttam Galva Steels hits 5% upper circuit as ArcelorMittal may bid for Co

The NCLT Mumbai Bench on October 1 admitted a petition filed by State Bank of India (SBI) under the Insolvency and Bankruptcy Code (IBC), according to a report.

ArcelorMittal likely to bid for Uttam Galva after its admission to NCLT

ArcelorMittal had taken a bulk of Uttam Galva's debt to become eligible for the Essar Steel bid under the insolvency law and became a significant financial creditor

Cleveland-Cliffs to buy ArcelorMittal US assets for $1.4 bn in cash, shares

Cleveland-Cliffs Inc, the largest US producer of iron ore pellets, has agreed to buy the US assets of the world's largest steelmaker ArcelorMittal SA for about $1.4 billion in cash and shares

ArcelorMittal in talks to merge US assets with Cleveland-Cliffs: Report

The combination would signal a new push among steelmakers to consolidate and diversify their business, making it less vulnerable to swings in demand

ArcelorMittal SA declares force majeure after blast furnace breakdown

The clause of force majeure, loosely translated as superior force, allows certain terms of an otherwise legally binding agreement to be ignored due to unavoidable circumstances.

How Tata Steel's Europe ordeal has encouraged it to re-focus on India ops

In the first quarter of FY21, Tata Steel Europe's EBITDA loss was at Rs 626 crore, owing to a weak European market

ArcelorMittal Nippon Steel India EBITDA drops 23.5% to $107 mn in June qtr

ArcelorMittal, which holds 60% in AMNS India, said Covid-19 had severely disrupted domestic demand particularly in April

ArcelorMittal reports $559 mn loss in June quarter; sales down to $11 bn

Total steel shipments in the second quarter of 2020 declined 23.7 per cent to 14.8 million tonne (MT), significantly impacted by the adverse effects of Covid-19 pandemic across all regions

Gujarat HC judge recuses self from hearing ArcelorMittal Nippon's plea

In an oral order, Justice Udhwani, in whose court the matter was listed for hearing, said "not before this court".

ArcelorMittal moves HC against Gujarat govt, Essar over Hazira port licence

Essar Steel owns a 10 million tonnes per annum steel plant at Hazira in Gujarat, which is serviced by a captive jetty constructed at port.

ArcelorMittal's holding firm starts ops at Odisha's Thakureni iron ore mine

The Thakurani block, with estimated reserves of around 179 million tonne, will make a valuable contribution to AM/NS India's long-term raw material requirements

Lakshmi Mittal gifts GBP 3.5 mn to Oxford for developing Covid-19 vaccine

Lakshmi Mittal said, "This year has been a wake-up call to the world to be better prepared for pandemics, which, as we have all experienced, can cause massive social and economic disruption."

ArcelorMittal to invest Rs 2,000 cr in Odisha, says Lakshmi Mittal

Mittal said, the company would work on the two iron ore mines- Sagasahi and Thakurani in Odisha

No uniform policy a big hurdle for production: AMNS India CEO Dilip Oommen

Infrastructure steel consumption has not picked up yet. Some steel consuming segments like auto have started their production. Full revival will take some time, says Dilip Oommen

Fighting coronavirus: It's a mixed bag for Indian firms in Britain

Jaguar Land Rover, a marquee entity of the Tata group, has been majorly hit by the freeze

ArcelorMittal offers $2 bn shares at discount to accelerate debt reduction

The company said on Tuesday it will sell $750 million of shares at a price of $9.27, equivalent to 8.57 euros

Amid coronavirus lockdown, steel demand pick-up off to a slow start

Construction activities have resumed, albeit in a staggered manner; in some pockets there is demand for yellow goods as well