ArcelorMittal News

Arcelor Mittal's Essar Steel buy may not severely hit other players
Thu, 09 Jan 2020 00:00:00 GMT
Arcelor Mittals debut in steel industry through acquisition of Essar Steel will raise the competition in the domestic steel sector. Nevertheless there is still headroom for steel companies to increase capacities with consumption demand tipped to grow at 6-7%. Ind-Ra said continued regulatory support is critical to protect local steel players against the threat of


Italian court says Taranto steel plant's blast furnace 2 can ...
Thu, 09 Jan 2020 00:00:00 GMT
An Italian appeals court Tuesday decided that blast furnace No. 2 at the ArcelorMittal Italia plant, formerly the Ilva steelworks, in Taranto can stay open and continue to produce steel, Italian steel federation Federaccia and the plants labor unions said. ArcelorMittal declined to comment. The Taranto Appeals Court accepted the appeal by Ilvas extraordinary


Essar Steel deal done, ArcelorMittal and Nippon Steel set targets ...
Wed, 08 Jan 2020 00:00:00 GMT
A major focus area for the two partners would be research and development. ArcelorMittal invests $300 million a year into R&D, and its partner has put in about $2 billion in last three years in research and


Nippon Steel & Sumitomo Metal Corporation - Press Release
Tue, 17 Dec 2019 09:01:29 GMT
ArcelorMittal and N ippon Steel Complete Joint Acquisition of Essar ...


SEAISI Press Release
Tue, 17 Dec 2019 00:00:00 GMT
ArcelorMittal says it has completed acquisition of Essar Steel


NCLAT dismisses ArcelorMittal plea over EPC Construction
Mon, 16 Dec 2019 00:00:00 GMT
ECIL's Committee of Creditors (CoC) had rejected ArcelorMittal India's bid and had voted in favour - with a majority of 73.14 per cent - of the resolution plan by Mauritius-based Royale Partners Investment Fund


ArcelorMittal completes acquisition of Essar Steel
Mon, 16 Dec 2019 00:00:00 GMT
According to a release, the company has also established a joint venture with Nippon Steel called ArcelorMittal Nippon Steel India (AM/NS India), which will own and operate Essar


NCLAT dismisses ArcelorMittal plea over EPC Construction
Mon, 16 Dec 2019 00:00:00 GMT
ArcelorMittal India, subsidiary of the global steel major, had challenged it before the NCLAT contending that the action of the CoC is vitiated by procedural irregularities rendering illegal approval. The steel major has contended that the resolution plan submitted by it was ex facie a better resolution plan selected by the


Italian government reveals industrial plan for Ilva
Mon, 16 Dec 2019 00:00:00 GMT
Following a meeting with unions, Italian Minister Stefano Patuanelli has revealed the first details of the governments industrial plan for former steelmaker Ilva, now ArcelorMittal Italia. A union representative tellsKallanishthe plan is worth 1 billion ($1.1 billion) and will involve the ramp up of production from the 6 million tonnes/year suggested by ArcelorMittal to


ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel ...
Sat, 14 Dec 2019 00:00:00 GMT
As per a source privy to the development, ArcelorMittal has arranged the entire fund and is likely to transfer the amount by December


ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel ...
Sat, 14 Dec 2019 00:00:00 GMT
ArcelorMittal has initiated payment for acquisition of debt-ridden Essar Steel for Rs 42,000 crore.


ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel ...
Sat, 14 Dec 2019 00:00:00 GMT
According to banking sources, Payment from ArcelorMittal has started flowing and entire payment is expected to be cleared in a day or two. Another source privy to the development said ArcelorMittal has arranged the entire fund and is likely to transfer the amount by Monday. After the payment to the lenders, this will be the single-biggest recovery under the


Essar Steel: Finally bankers expect money next month
Thu, 28 Nov 2019 00:00:00 GMT
On November 15, the apex court paved the way for ArcelorMittal to take over Essar Steel for Rs 42,000 crore, giving primacy to secured creditors in any bankruptcy resolution plan. The apex court over-ruled the appellate tribunal NCLAT which asked the banks to share the proceeds equally with the unsecured creditors as


Arcelor entry will energise India's steel sector: Pradhan
Fri, 22 Nov 2019 00:00:00 GMT
ArcelorMittal, the world's biggest producer of the alloy, is entering India at a time when the sector is going through a lean phase, facing a demand slump. Other steelmakers shared Pradhans sentiments about ArcelorMittals entry into India. ArcelorMittals presence will bring in new technology, and have a longer-term impact on prices and the steel product


ArcelorMittal India entry: Domestic steel firms say more players ...
Thu, 21 Nov 2019 00:00:00 GMT
Last week, the Supreme Court paved the way for ArcelorMittal's takeover of debt-ridden Essar Steel for Rs 42,000 crore and set aside the July 4 NCLAT order giving equal status to financial creditors and operational creditors. Following the verdict, ArcelorMittal said it expects to complete the acquisition of the debt-ridden company by the end of this


ArcelorMittal aims to complete Essar Steel acquisition by 2019-end
Tue, 19 Nov 2019 00:00:00 GMT
ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (ESIL') has been unconditionally approved by the Supreme Court of India and the approval of AMIPL's resolution plan is the final procedural step in ESIL's corporate insolvency process, the company said in a


Why ArcelorMittal should take its IBC prize Essar Steel public ...
Mon, 18 Nov 2019 00:00:00 GMT
Essar Steel is a feather in ArcelorMittals cap but it has its task cut out and its balance sheet will feel the strain of the


ArcelorMittal says it is calling off acquisition of Italy's Ilva
Tue, 05 Nov 2019 00:00:00 GMT
ArcelorMittal's decision sparked outrage across Italy, with trade unions blaming the steel giant and the ruling anti-establishment for pulling the rug out from under the deal which would have safeguarded thousands of


Hot Metal Desulfurization and dedusting system from Primetals ...
Thu, 10 Oct 2019 00:00:00 GMT
Recently, at the production site of Brazilian steel producer ArcelorMittal Monlevade a 130-ton-hot-metal desulfurization station (DeS) and a new dedusting system supplied by Primetals Technologies commenced operation. The desulfurization station represents the first installation of Primetals Technologies combining a volumetric dosing device for Magnesium (Mg) and a pressure dispenser for Calcium Oxide (CaO). Low sulfur levels of lesser than 0,005% (50ppm) can be achieved. The consumption of


ArcelorMittal reports $0.447 billion net loss for June quarter
Thu, 01 Aug 2019 00:00:00 GMT
ArcelorMittal follows January-December financial year.


Number of news reports: 20