ArcelorMittal has steelmaking facilities in 19 countries, and we are the leader in all the main steel markets
ArcelorMittal is the world’s largest steel producer, with annual achievable production capacity of approximately 114 million tonnes of crude steel. Steel shipments for the year ended December 31, 2015 totaled 84.6 million tonnes.
The world’s largest steel maker ArcelorMittal on Friday said it has been chosen by the lenders to takeover debt-laden Essar Steel India Ltd for about Rs 42,000 crore.
In a statement, ArcelorMittal said its resolution plan for Essar Steel, which the lenders auctioned to recover over Rs 49,000 crore of unpaid loans, includes “an upfront payment of Rs 42,000 crore” to settle debt and “a further Rs 8,000 crore of capital injection into the company to support operational improvement, increase production levels and deliver enhanced levels of profitability”.
The Committee of Creditors have issued ArcelorMittal and its partner Japan’s Nippon Steel & Sumitomo Metal Corp a Letter of Intent (LoI) declaring them as the “successful applicant”.
The development comes a day after promoters of Essar Steel offered to pay lenders Rs 54,389 crore, including Rs 47,507 crore upfront cash payment to clear all dues of lenders, and pull out the firm from insolvency proceedings.
Our steel divisions and facilities
Our diversified portfolio of products enables us to meet customer requirements across industries. To do this, we rely on our specialised production facilities around the globe.
Our flat operations produce slabs, hot-rolled coil, cold-rolled coil, coated steel products, tinplate and heavy plate. These products are sold to steel-consuming industries such as heavy machinery, automotive, pipes and tubes, construction, packaging and appliances. There are currently eight ArcelorMittal sites producing flat products across the US, Canada, Mexico and Brazil, and another 15 sites in six European countries.
ArcelorMittal’s long business produces billets, blooms, rebars, wire rod, sections, rails, sheet piles and drawn wires, as well as supplying both seamless and welded tubular products. The main markets for these products are construction and mechanical engineering, as well as energy and automotive applications. Long Carbon Americas has 15 sites in six countries; Long Carbon Europe has 17 integrated and mini-mill sites in nine countries.
