The VELUX Group has entered a 10-year agreement with ArcelorMittal concerning the supply of recycled and renewably produced steel. In 2023, the two companies agreed to enter a partnership to lower the carbon footprint of the steels used in VELUX roof windows by up to 70 percent, compared with conventionally produced steel. This co-operation involved the testing and validation of ArcelorMittal’s XCarb® recycled and renewably produced steel and its performance in VELUX roof window hinges and installation brac ...

ArcelorMittal S.A. (MT) recently announced that it has signed a definitive equity purchase agreement with Nippon Steel Corporation ("NSC") to acquire NSC's 50% equity stake in the AM/NS Calvert joint venture (JV). The transaction was entered into at NSC's request to address regulatory issues related to its agreed acquisition of US Steel. The deal is contingent on NSC completing its pending acquisition of U.S. Steel, which is subject to numerous regulatory requirements. Per the terms of the agreement, Arcelo ...

11 October 2024, 08:30 CET ArcelorMittal (the “Company”, “Group”) announces it has entered into a definitive Equity Purchase Agreement (the “Agreement”) with Nippon Steel Corporation (“NSC”) pursuant to which ArcelorMittal will purchase NSC’s 50% equity interest in the AM/NS Calvert Joint Venture (the “Transaction”). The Transaction has been entered in to at the request of NSC to address regulatory concerns pursuant to its agreed acquisition of US Steel. The Transaction is subject to NSC completing its pend ...

9 October 2024, 08:00 CET ArcelorMittal (the 'Company' or the 'Group') has today published the recommendations of the comprehensive dss+ workplace safety audit that was commissioned at the end of 2023, against the backdrop of a clear necessity to strengthen Group safety performance. The audit, which was ongoing for nine months across all geographies, functions and levels of the organization, had three main scopes: 1.   Fatality prevention standards for the three main occupational risks leading to serious i ...

ArcelorMittal (MT) Fos-sur-Mer recently commissioned its ladle furnace, marking a significant milestone in the French plant's contribution to the steel industry's energy transformation.The ladle furnace is a steel reheating station that can enhance the amount of recycled steel in the end product by up to five times its current volume. The ladle furnace's commissioning will lower the amount of hot metal consumed by 10% as early as 2025. The new facility features two ladle stands, each holding more than 330 t ...

30th September 2024, 15:45 CET On the occasion of the 20th anniversary of ArcelorMittal Poland, ArcelorMittal Europe CEO Geert Van Poelvoorde calls for European Union support for emergency trade measures, and a firm action plan for steel, to keep steelmaking alive in Europe It is 20 years since Mittal Steel acquired Polskie Huty Stali in 2004, when the business was put up for privatisation by the Polish government. Since then, the business has been transformed and modernised through significant investment. ...

Investment and Collaboration - ArcelorMittal S.A. announced a $5-million investment in Utility Global through its XCarb Innovation Fund, which focuses on decarbonizing steel production [1] - The investment is part of Utility Global's $53 million Series C funding round, led by Ontario Power Generation [1] - A collaboration agreement was established to expedite the adoption of Utility Global's technology, including plans for pilot projects at ArcelorMittal facilities [2] Technology and Innovation - Utility Global developed a patented reactor that processes variable industrial gases into high-purity hydrogen and a concentrated CO2 stream, which can replace natural gas in steelmaking [1] - The concentrated CO2 stream aids in cost-effective carbon capture and storage, essential for reducing emissions in the steel industry [1] - The XCarb Innovation Fund emphasizes the need for cost-effective and scalable solutions for decarbonizing hard-to-abate sectors like steel, with Utility Global's eXERO technology meeting these criteria [2] Market Performance - ArcelorMittal's stock has increased by 1.1% over the past year, contrasting with a 6.4% decline in the industry [3] - The company currently holds a Zacks Rank of 3 (Hold) [4] Comparisons with Peers - IAMGOLD Corporation, Eldorado Gold Corporation, and Carpenter Technology Corporation are better-ranked stocks in the Basic Materials space, each holding a Zacks Rank of 1 (Strong Buy) [4] - IAMGOLD's current-year earnings estimate is 41 cents per share, reflecting a 355.6% increase year-over-year, with a stock surge of nearly 165.7% in the past year [5] - Eldorado Gold's earnings estimate is $1.35 per share, indicating a 136.8% rise year-over-year, with shares increasing by approximately 103.3% [5] - Carpenter Technology's earnings estimate is $6.09 per share, showing a 28.5% year-over-year rise, with a stock increase of nearly 135.9% [5]

ArcelorMittal’s XCarb® Innovation fund invests in Utility Global to progress its gas processing technology 25 September 2024, 16:00 CET ArcelorMittal (the ‘Company’) today announces it has invested $5 million in Utility Global through its XCarb® Innovation Fund. The Fund, launched in 2021, invests in companies developing disruptive technologies that have the potential to support the decarbonisation of steelmaking. The investment is part of Utility Global’s $53 million Series C fundraising round, led by Onta ...

Event highlights India’s position as world’s fastest growing steel market and AM/NS India’s vision to become the benchmark for quality, scale and sustainability in Indian steelmaking 25 September 2024, 11:30 CET ArcelorMittal today hosted an investor day at AM/NS India’s flagship plant in Hazira, Gujarat. The event provided members of the investment community with the opportunity to witness first-hand the progress AM/NS India – a 60/40 joint venture between ArcelorMittal and Nippon Steel – is making with th ...

HJBC ArcelorMittal's (NYSE:MT) Q2 2024 performance showed resilience, with the company achieving an EBITDA of $1.5 billion despite the impact of lower steel prices across all divisions. Although management expects a further EBITDA decline in Q3 due to continued price pressures and weak demand, steel prices appear to have stabilized at a cyclical low. Indeed, signs of market correction, such as trade protections and potential production cuts in China, position ArcelorMittal well for a rebound. The compan ...