Regulatory News:
ArcelorMittal, the world's largest steelmaker, has announced that it has decided to double the capacity of its integrated long products Monlevade plant located in Brazil's Minas Gerais State.
Monlevade produces wire rod. It currently runs one blast furnace, which was commissioned in 2000. The doubling of the plant's capacity will occur through the construction of another blast furnace, which will add over one million tons.
Speaking on November 29 in Vitoria, Brazil, at the inauguration of the expansion to 7.5 million tons of ArcelorMittal Tubarão, the Group's main flat carbon steel plant in Brazil, Mr. Lakshmi Mittal, president and CEO of ArcelorMittal, said: "I am happy to be able to announce that over the next five years we will be investing approximately USD 5 billion in our Brazilian operations, including maintenance. This includes such projects as the expansion of the hot strip mill in Tubarão to four million tons per year and constructing a new hot dip galvanising line in Vega do Sul. With its close promimity to raw materials, good quality iron ore, highly skilled workforce and attractive growth prospects, Brazil is a great place to make steel".
Regarding Monlevade, Mr. Mittal added: "The decision to construct a new blast furnace in Monlevade is part of the Group's recently announced growth plan, which aims at increasing shipments by 20% by 2012 through organic growth alone. It was recently taken by the Group's Board of Directors, and Group Management Board is now set to implement it. Work on the ground will begin shortly".
About ArcelorMittal
ArcelorMittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.
ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
ArcelorMittal key pro forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Contacts:
Europe, +352 4792 2414
Americas,
+1 312 899 3569
Retail, +352 4792 2434
SRI, +44 203 214 2854
Bonds/Credit,
+33 1 71 92 10 26
or
ArcelorMittal Communications
E-mail:
press@arcelormittal.com
Phone:
+352 4792 5000
or
ArcelorMittal Corporate Communications
Mark
Mann, +44 203 214 2867
Jean Lasar, +352 4792 2359
or
Maitland
Consultancy
Lydia Pretzlik / Martin Leeburn, + 44 20 7379 5151
or
Belgium
Comfi
Charles-Hubert
Gernaert, +32 2 290 90 90
or
North America
Bill
Steers, +1 312 899 3817
or
Netherlands
Smink, Van
der Ploeg & Jongsma
Leon Melens, +31 20 647 81 81
or
Germany
Herring
Schuppener
Phoebe Kebbel, +49 69 92 18 74 77
or
France
Sandra
Luneau, +33 1 71 92 00 58
or
Image 7
Anne France Malrieu /Tiphaine Hecketsweiler
+33 1 5370 7470
or
Spain
Ignacio
Agreda, +34 94 489 4162
Oscar Fleites, +34 98 512 60 29
Keith
Grant, +34 639 760
