Page 9 - Arcelormittal

ArcelorMittal reports $1.21 billion net income in Oct-Dec 2020

Global steel giant ArcelorMittal on Thursday posted $1.21 billion net income for the quarter ended December 31, 2020

ArcelorMittal announces $1 billion cost savings plan, restarts dividend

ArcelorMittal said it had benefited from a gradual recovery in steel demand resulting in higher steel shipments and improved margins as well as a better mining performance

Aditya Mittal set to take over from his father as CEO of ArcelorMittal

The company also said it will pay a dividend of 30 cents a share. The steelmaking giant halted payouts following a collapse in demand last year

AM/NS India inks Rs 5,000 crore MoU with Posco for hot rolled coil supply

Under the agreement, the sixth such between the two firms since 2015, both entities will also jointly work to enhance the quality of current grades, develop new value-added grades

ArcelorMittal Nippon Steel India inks pact with POSCO Maharashtra Steel

The pact is to supply hot rolled coils

AM/NS mulls steel plant in Odisha seven years after ArcelorMittal pull out

Plant capacity pegged at 12 mn tonnes, firm plans state-of-the-art of rail mill, hot strip mill, value-added long and flat product capacities in the state

Nithia Capital, CarVal Investors complete purchase of two Uttam Group firms

Total consideration Rs 2,000 cr; companies were on RBI's second list of NPAs mandated for resolution under IBC

ArcelorMittal, JSW Steel among six firms keen on buying Uttam Galva Steel

Uttam Galva's total admitted claims are Rs 9,070.66 crore, with ArcelorMittal having an 87 per cent voting share among financial creditors

Bombay HC asks Essar to deposit security payable to AM/NS with court

Essar spokesman refuses to comment saying matter is subjudice, adding that group is exploring all options including appealing to a higher court

Lakshmi Mittal's journey a year after he came home to buy Essar Steel

It has been a mixed bag for the firm he renamed AMNS India, and while the pain of the downturn and the pandemic has subsided, other issues remain

A year of ArcelorMittal Nippon: A 'new type of steel company' in the works

Firm claims Covid has had no long-term impact, growth plans are on track and target of reaching 12-15 million tonne output remains

AMNS India keen to expand India footprint if it gets conducive environment

In an interview with Ishita Ayan Dutt, ArcelorMittal Nippon Steel India CEO Dilip Oommen makes a case for curbs on export of iron ore amid a shortage for domestic markets

NCLT directs ArcelorMittal to pay Rs 1,300 cr for use of slurry pipeline

Tribunal responds to Srei Infra plea, holds charges for use of slurry pipeline for running Essar Steel as a going concern during CIRP period are insolvency resolution process costs

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