January, 30 2006
NMDC & Rio Tinto team up to develop mines in Orissa
Rio Tinto and National Mineral Development Corporation may jointly develop iron ore mines in Orissa as per Orissa governments decision to allow NMDC to participate in the effort to revive Rio Tinto Orissa Mining RTOML, a JV between Rio Tinto and OMC.
RTOML was set up to develop two mines at Gandhamardan and Malangtuli in Orissa. The two partners, however, got embroiled in litigation, with OMC contending that the JV has ceased to exist. The Orissa government and Rio Tinto have now agreed to begin negotiations afresh to revive the JV, and have agreed to rope NMDC into the JV.
The JV, at the time of inception in the late 1990s, studied a new mining project in the Gandhamardan / Malangtuli areas of Orissa ore reserves were estimated at 800 million tonnes. The project was to start in 2006 with an aim to produce 25 million tonnes per year by 2011 and have an eventual capacity of 50 million tonnes. The project didnt get off the ground as the iron & steel sector went into a slump.
OMC chairman Mr Bhaskar Chatterjee said that the new agreement will look at value addition of iron ore rather than just standalone mining activity. A NMDC official said, We are keen on the venture as the company had earlier carried out extensive survey to develop Gandhamardan and Malangtuli mines and had incurred huge costs in the process. The new venture may also look at developing mines other than Malangtuli and Gandhamardan. The JV will also look at two other mines, that is, Dubna and Sakrudi in Orissa, to be explored for the mining project, he said.
Orissa CM invites agitating tribal for talks
Orissa CM Mr Naveen Patnaik has invited tribal leaders for a dialogue to break a stalemate arising out of the killing of 12 tribal in police firing in the states Jajpur district.
Mr Patnaiks peace initiative comes close on the heels of the meeting between the tribal leaders and district collector Mr Arabinda Padhi in Kalinga Nagar on January 24. Mr Padhi had communicated to the government that the trials were interested in meeting Patnaik.
Hundreds of tribal have since continued to block a national highway to press for their demands including action against the police and district administrative chief. As a result of this blockade industrial activities have come to a standstill in the region. The agitation has also spread to other parts of the state where industries are located, causing extensive losses.
NINL promises jobs and blockade removed
Nilachal Ispat Nigam Ltd signed an agreement to provide jobs to all the families displaced by its Kalinga Nagar-based plant to remove the blockade which was effecting its production
According to the agreement reached last evening, NINL would bring 35 of its total 850 outsourced employees under the company rolls by February 15. These people had been given jobs over the years but were not regularized owing to fiscal problems.
The NINL plant, built in the early Nineties over 2,500 acres, had displaced 639 families of which 360 had been given jobs. The company would now submit a blueprint detailing its plan to absorb the rest of the 280 odd people by February 15, directly or through outsourcing.
The company has 2,000 people of which 1,150 are on its rolls. By signing the agreement this evening, we managed to avert permanent damage to the company. Further delay would have proved fatal, said NINL MD Mr SK Sarna. He said that the cost of providing jobs to the displaced families was nothing compared to the tension that the employees underwent inside the plant.
Road projects in Orissa attract private developers
The Orissa government has come to the sudden conclusion that certain road projects in the state have become commercially viable. With the lining up of 43 steel projects and 4 aluminium projects, apart from five thermal power plants, the state is now feeling the pressure for road projects. And private infrastructure developers have begun to queue up.
It is reported that two major Indian infrastructure development companies have expressed interest. The Mumbai-based Infrastructure Leasing and Financial Services and Kolkatas Srei International have made offers to the state government to develop some of the strategically important roads linking the mining areas with the ports.
The condition of these roads has worsened due to the plying of heavy commercial vehicles carrying iron ore from Keonjhar districts to the Paradip Port. We want to hand over the road projects under BOT basis, said the state works minister Mr AU Singhdeo. He said that the state government will be preparing the modalities of the BOT scheme along with a concession agreement to announce the states road policy.
SAILs Q3 performance
Steel Authority of India Limited posted a profit after Tax of Rs 685 crore on a turnover of Rs 7,176 crore during the third quarter of the current financial year. With this, SAIL has recorded consistent profit for the 12th consecutive quarter. However, the PAT is lower as compared to Rs 1,514 crore achieved by the company during the corresponding quarter of the previous year.
SAIL plants produced 3.6 million tonnes of hot metal, 3.4 million tonnes of crude steel and 3.03 million tonnes of saleable steel during October-December 2005 recording a growth of 8%, 6% and 3% respectively over the corresponding period last year. Saleable steel production at 8.59 million tonnes during April-December 2005 was 8% higher over CPLY.
The lower profitability was essentially on account of lower level of steel prices and higher costs of input, mainly coking coal. In view of the over capacity of steel in the international market with China becoming an exporter, there has been pressure on steel prices. The rise in the prices of coking coal alone put an additional burden of over Rs 1,000 crore during April-December 2005 on the steel major. Market is now stable and it is expected that prices of imported coking coal may decline now.
SAILs PAT for the first nine months of 2005-06 was Rs 2,935 crore as against Rs 4,139 crore in the CPLY. With an overall improvement in techno-economic parameters, the company improved its average capacity utilization to the level of 107% as against 104% achieved during the last financial year.
SAIL recorded a turnover of Rs 21,330 crore during April-December 2005. The company reduced its borrowing by Rs 1,240 crore to the level of Rs 4,530 crore as on 31 December 2005 and reduced its interest charges by Rs 98 crore during the first nine months of the current financial year. SAILs debt-equity ratio further improved to 0.36:1 as on 31 December 2005 as against 0.58:1 recorded on 31 March 2005. Having equivalent deposit with banks, the company is virtually debt free.
SAIL has made steady progress in the implementation of its corporate plan 2011-12. By now, capital schemes valued at around Rs 3,900 crore are under various stages of implementation across the company. In addition to these ongoing projects, the SAIL Board granted final approval for four new schemes and in-principle approval for four other schemes at a total estimated cost of more than Rs 400 crore. The key projects that were granted approval in todays board meet are Installation of 2nd Ladle Furnace in Continuous Casting Shop of SMS II at Bokaro, Installation of Enterprise Resource Planning at Bokaro, and Installation of Bloom Caster in Steel Melting Shop at VISL.
Some of the major schemes that got commissioned in the recent past include up gradation of BF 4 and ERW Pipe Plant and installation of cast house slag granulation plant in BF 1 at Rourkela Steel Plant, replacement of stands in Merchant Mill at Bhilai and installation of a ladle furnace at Durgapur.
Reflecting on the companys financial performance, Mr VS Jain Chairman SAIL remarked, The financial position of SAIL is fundamentally strong to withstand market fluctuation. Now, there appears to be stability in steel prices. Moreover, with a high level of economic growth in the country, the consumption of steel will continue to increase. Our company has a progressive growth plan and is steadily moving ahead to newer heights.
POSCO to set up electrical steel processing centre
POSCO has started to build a processing centre for electrical steel POS-IPC in Pune India to meet the surging demand. The facility is scheduled to be completed in October with the capacity to process 130.000 tons of electrical steel annually
"Thanks to India's rapidly growing economy, local demand for electrical steel is soaring," POSCO spokesperson Mr Lee Sang-choon said.
Electrical steel is used to make transformers, reactors, small electric precision motors, magnetic switches and small-scale power generators or converters. Except for some small capacity at ThyssenKrupps Nashik plant there is no other manufacturer of grain oriented variety in India and the entire demand of this industry is met through imports.
Coal India plans initial float
Coal India Ltd is set to come out with an initial public offer and is awaiting government nod for it. The IPO has been planned on the lines of Power Finance Corporation and National Thermal Power Corporation where it comprised issuing of fresh equity as well as offloading part of government equity.
In case the IPO offers 5% fresh and 5% government equity, it could mean dilution of government holding by 10%, said a senior official. The IPO would also require an in-principle understanding from the political allies since disinvestment in a coal firm is a touchy issue.
The paid-up capital of CIL is Rs 7,220.54 crore comprising Rs 904.18 crore of non-cumulative 10% redeemable preference share capital and Rs 6,316.36 crore of equity capital issued to the government, including Rs 256.93 crore worth of equity shares issued to the government towards the value of land acquired.
Ruia group completes acquisition of IDCOL Rolling Mills
Kolkata based Ruia Group has completed acquisition of the closed Orissa Government PSU IDCOL Rolling Mills Ltd (IRML). The total acquisition cost of IRML was close to Rs 7 crore including the bid price of Rs 1.11 crore and other financial liabilities.
According to sources, post acquisition, IDCOL Rolling will be renamed as Hirakud Industrial Works (HIW) Ltd. The operations will be integrated with engineering and construction major Jessop & Co
Set up in 1968, IRML was previously a unit of the State undertaking Industrial Development Corporation of Orissa Ltd and was converted into a wholly owned subsidiary in 2002. The company was put on the block for divestment in 2003. The rolling mill has a capacity to manufacture 25,000 tonnes of rolled products. The company was closed since August 1998.
Arcelor Board unanimously rejects Mittal Steel's proposal
At an extraordinary meeting in Luxembourg today, Arcelor's Board of Directors, under the chairmanship of Mr Joseph Kinsch, has examined Mittal Steel's unsolicited proposal.
After a thorough review and analysis of the elements at its disposal, the Board has swiftly concluded that Arcelor and Mittal Steel do not share the same strategic vision, business model and values. The Board then expressed its concern regarding the severe consequences that Mittal Steel's proposal could have on the group, its shareholders, employees and customers. Furthermore, the Board of Directors believes that the continuation of Arcelor's present strategy offers the best guarantee of value creation for its shareholders.
Therefore, the Board of Directors has resolved that it unanimously rejects Mittal Steel's unsolicited proposal which it considers hostile, recommends to Arcelor's shareholders not to tender their shares into the proposed offer, if and when submitted and mandates the Management Board to present to the Board of Directors all actions and options that are in the best interests of all stakeholders.
The Board of Directors confirms its full confidence in the management and employees of Arcelor and supports their ongoing efforts to create value for all stakeholders.
All these arguments will be presented in further detail at the news conference that will be held by Arcelor's group management board.
Mittal Steel & Arcelor schedule press conferences today in Paris
It is reported that Mittal Steel CEO Mr LN Mittal has scheduled a press conference in Paris at 11.30 AM Monday in connection with the company's 18.6 billion euro hostile bid for Arcelor.
Arcelor has also scheduled a separate press conference in Paris at 1.00 PM the same day.
Rio set to strike $5 billion profit
Rio Tinto is expected to double its annual profit to a record $5 billion this week, capping off a storming year in which the miner's share price has shot up more than 75%. The forecasts are more than double the $2.18 billion the Anglo Australian mining giant posted for 2004.
One of the biggest drivers of the earnings growth for Rio Tinto has been the 71.5% increases in contract iron ore prices that came into effect in April. And iron ore could continue to drive growth in 2006 with most analysts now expecting that this year's negotiations with Asian steel makers will deliver another 20% price hike in prices.
Rio Tinto has been working hard to take advantage of the high prices by upgrading rail, mine and port infrastructure at its iron ore operations in the Pilbara in Western Australia. It is spending $1.35 billion to boost production at its key Hamersley operations to 52 million tonnes per year from the current 32 million tonnes per year, with upgrades of its Yandicoogina mine and Dampier port facilities due for completion at the end of 2007.
ABN Amro mining analyst Mr Robert Clifford said Rio Tinto's iron ore and copper businesses were the two key drivers of profit growth in 2005.ABN Amro is forecasting a $4.95 billion net profit result for the miner for 2005 and sees further iron ore price increases and strong aluminium prices delivering a $5.88 billion result in 2006. Mr Clifford said the big unknown ahead of the release of Rio Tinto's results on Thursday was how the cost hikes that were affecting the whole industry would impact on the miner. "At this point in time we know the production figures, we know the commodity prices but the biggest variation will be in costs. It will be the costs everyone will be looking at to see if they meet the analysts' expectations." he said.
How Arcelor was formed
Arcelor was created in February 2002 by three steelmaking companies Spains Aceralia, Luxembourg based Arbed and French Usinor, with the intention of establishing a company that would lead the global steel industry. Officially launched on February 19, 2001, the merger became effective on February 18, 2002, when the Arcelor share was listed on several stock exchanges. The choice of the name Arcelor was announced on December 12, 2001.
[b]Aceralia[/b]
The beginnings of Aceralia date back to 1902 with the birth of the blast furnaces, Altos Hornos de Vizcaya, arising from the merger of three companies: Altos Hornos de Bilbao, La Vizcaya and La Iberia. At the time of its incorporation it was the largest company in the country and its location was in response to the deposits of iron-ore to be found in the area around Bilbao, to the proximity of a seaport and to Bilbao's tradition in metallurgy. Almost half a century later, in 1950, the steel-works Ensidesa, Empresa Nacional Siderrgica Sociedad Anima, was founded to reinforce Spain's economic development in the decade of the 60s. Ensidesa became a major steel-works in national terms in 1973, when it took over Uninsa.
In December 1994 and as a result of the implementation of the "Plan de Competitividad Conjunto AHV -Ensidesa" (Joint Competition Plan AHV - Ensidesa), the group CSI, Corporaci Siderrgica Integral, was set up. Its reorganization in 1997 led to the creation of Aceralia Corporaci Siderrgica. The process of privatisation of Aceralia features a number of significant landmarks: its strategic alliance with the Arbed Group as one of the world's leading steel companies, the acquisition, firstly, of the Aristrain Group, the leading Spanish manufacturer of steel sections, and two years later, the purchase of the Uc Group, the leading manufacturer of rebars and wire rod. Thus, Aceralia emerged as the largest steel manufacturer in Spain, with an output of almost 10 million tons.
[b]Chronology of Aceralia [/b]
1902 : Creation of AHV
1950 : Creation of ENSIDESA
1973 : ENSIDESA (absorption of UNINSA)
1991 : Establishment of CORPORACION de la SIDERURGIA INTEGRAL
1994 : Establishment of CSI Corporacion Siderurgica, by utilizing the profitable assets of Corporacion de la Siderurgia Integral. Operations begin in 1995.
1997 : Creation of ACERALIA CORPORACION SIDERURGICA and strategic alliance with the Arbed Group.
[b]ARBED[/b]
ARBED, whose origins date back to 1882, is an international group belonging to the most important steelmakers worldwide. The parent company ARBED S.A. was created in 1911 and regroups, as an industrial holding, the major sub-groups ACERALIA, SIDMAR, ProfilARBED, TradeARBED, Belgo-Mineira and TrefilARBED.
In terms of activities, the group consists of complementary industrial sectors. It is established as one of Europe's leading producers of flat products and as a major supplier to the automotive industry. It is a major player in the European flat stainless steel products market. In the long products sector, it is a market leader in beams and piling sections.
The ARBED Group is continuing its development in areas connected to steelmaking and metal processing . It is one of the leading producers of steelcord worldwide and the leading manufacturer of drawn wire products in South America. Its sales, trading and marketing network comprises outlets in more than 60 countries. The group's engineering sector valorizes and commercializes its steelmaking experience. The group is also active in the production of extra-thin copper foil for the electronics industry.
[b]Chronology of Arbed [/b]
1882 : Establishment of the parent company
1886 : Beginning of Thomas steel production in Luxembourg
1911 : Merger of the 3 largest steelmakers in Luxembourg and creation of
Arbed
1920 : Creation of TradeARBED
1922 : Creation of Cia Siderurgica Belgo-Mineira in Brazil
1962 : Creation of SIDMAR in Belgium
1985 : Majority shareholding in ALZ through SIDMAR
1992 : Control is taken of the former Maxhtte (ex-GDR) and establishment of Stahlwerk Thringen
1993 : Organization of the Group in business sectors
1993/97 : Conversion to electric steel production in Luxembourg
1995 : Majority shareholding in Klkner Stahl, now STAHLwerke BREMEN
1997 : Strategic partnership with ACERALIA (formerly CSI) in Spain
1998 : Integration of ARISTRAIN in Spain - Majority shareholding in Belgo-Mineira
1999 : Takeover of UCIN in Spain
2000 : Sale of the shareholding in Samitri
[b]Usinor[/b]
Usinor resulted from the merger in 1948 of two steelmaking groups (les Forges et Aciies du Nord et de l'Est and les Hauts Fourneaux, Forges et Aciies de Denain-Anzin). Sacilor's origins go back to the Wendel Group, which was founded in the 18th century.
The two companies expanded rapidly from 1950 until the early 1970s. The crisis period of the 1970s-1980s led to successive waves of concentration in the steel industry, organized around two focal points: Usinor and Sacilor.
The industry's difficulties were such that in 1981 the State took a majority stake in the capital of both companies by converting its claims: the two companies were then transferred de facto to the public sector. In 1986 France thus had a steel industry broken up into two medium-sized entities: two groups, Usinor and Sacilor, which were competitors in many areas.
To improve overall performance, the State - which then owned nearly 100% of each of the two groups - decided to merge them after their withdrawal from the stock market. This was how Usinor Sacilor came into being.
The new Group then pursued a policy of rationalizing its equipment, optimizing management, refocusing its activities on the top end of the market and innovating and developing its competencies - all of which gave it full control over its competitiveness.
In 1994 the State set up the Aster holding company, within which special steels were grouped together. The components of Aster, Unimal and Ascomal were deconsolidated in 1998. The State decided to give Usinor Sacilor the resources it needed to grow under better conditions by returning it to the private sector, as it was already managed like a private company and faced a fiercely competitive environment. Usinor Sacilor was privatized in July 1995.
The group adopted the name Usinor in June 1997. During the 1990s Usinor based its growth on refocusing its product range on the top end of the market (flat carbon steels and stainless steels), strengthening its positions in Europe, and international development, particularly in Brazil, Thailand, the United States and Japan through a strategic alliance with Nippon Steel.
[b]Chronology of Usinor[/b]
1948: Creation of Usinor, which takes over from Forges et Aciies du Nord et de l'Est and Hauts Fourneaux, Forges et Aciies de Denain-Anzin
1948 : Creation of Sollac, which takes over from the Lorraine steel industry
1964 : Creation of Sacilor, the origin of which dates back to the Wendel group
1981 : Nationalization of Usinor and Sacilor
1986 : Merger of Usinor and Sacilor
1990 : Sollac absorbed by Usinor
1991 : Ugine absorbed by Sacilor
1994 : Special steels grouped together within the Aster holding company
1995 : Privatization of Usinor-Sacilor
1997 : Usinor-Sacilor becomes Usinor
1998 : Acquisition of Cockerill-Sambre, owner of EKO Stahl
1999 : Re-organization of the Usinor group
BHPs coking coal settlements positive Macquarie
BHP jumped almost 4% to a record high of $26.05 on Friday after news sources, including the Tex Report, indicated that hard coking coal prices had been settled between the BHP Billiton-Mitsubishi alliance and Japanese steel mills for 2006 at $115 per tonne, a $10 per tonne reduction from 2005 levels.
While the decline is the first for coking coal prices in three years, some analysts had predicted that the price fall could be twice as large. Macquarie Research Equities MRE believes that the contract price of $115 per tonne is a good result, and was in line with MRE expectations. If this reported settlement is confirmed by BHP Billiton, MRE would consider $115 per tonne for high quality hard coking coals such as Goonyella, Peak Downs, and Saraji to be a good result. Despite the 8% reduction in prices for FY2006, MRE note that prices are still more than 50% above MREs long term forecasts of $75 per tonne and nearly triple the $42 per tonne average for the past ten years
It appears that lower quality coking coal grades will suffer greater price reductions of $15 to 20 per tonne, leaving the overall price reduction received by producers at or slightly above 10%.
MRE believe that the reduction in coking coal prices smoothes the way for MREs forecast iron ore price increases of 15%. This allows total steel mill input costs to remain broadly flat.
Mittal Steel bid may trigger off M&A wave
Mittal Steels hostile bid for Arcelor has accelerated maneuvering in an industry ripe for mergers. Even if successful, the combined Mittal - Arcelor output of 115 million tonnes and annual sales of $69 billion would barely account for 12 % of the world market in a sector that remains fragmented despite nearly a decade of mergers and acquisitions.
If Mittal Steels bid fails, analysts say, a new flurry of takeovers is almost certain. Its a race for critical mass, said Mr Vincent Lepine, an analyst at Exane BNP Paribas.
Vietnam sets $1 billion shipbuilding target
Vietnam Shipbuilding Industry Corporation (Vinashin) has set itself a production value target of $1 billion for 2006. This compares with approximately $690 million in 2005. Vinashin will continue an expansion program aimed at establishing three shipbuilding clusters in the northern, central and southern regions of the country.
The northern cluster will focus on containerships and tankers of around 70,000 DWT, the central cluster on ships between 250,000 to 300,000 DWT and the southern cluster on ships of 30,000 DWT.
Vinashin "will strive this year to achieve the Government-set target of raising the local content rate of its products to 60 percent by 2010," says the report, which says that "construction will start this year on several accessories factories."
Fortescues Pilbara project costs rise
Andrew Forrest's Fortescue Metals Group has revealed another rise in the cost of its proposed Pilbara iron ore development as it races to secure funding in time to start construction. Fortescue now estimates its total funding requirements for the project at $A2.48 billion. The new estimate represents a substantial increase over the $A2.35 billion price tag expected by the market since August, when Fortescue said its port and rail facilities would cost $A1.95 billion and predicted other costs associated with establishing its mines would be kept under $A350 million.
The latest figures include an estimate of $A2.08 billion for Fortescue's proposed port and rail infrastructure for the 45 million tonnes a year venture, including a $US110 million reserve for any additional overruns.
The company expects to raise $US450 million through equity funding, with the remaining $US1.42 billion to be debt-funded. The company is close to finalizing most of its main contracting partners, and hopes to start work on its port facilities next month and begin railway construction in May.
BHPs coking coal settlement is a positive outcome UBS
UBS notes media reports indicate BHP Billiton has settled high quality hard coking coal contracts with Japanese buyers at $115 per tonne, an outcome above the brokers expectations. UBS had been forecasting a contract price of $110 per tonne, so it notes if the higher price was factored into BHPs earnings it would increase its estimates by 1% in FY07.
The broker notes Excel Coal is the most leveraged of the coal stocks to hard coking coal prices, so using the reported contract price the broker notes its FY07 earnings forecast for the company would increase by 3.5%.
While this outcome is a positive the broker notes early settlements for other types of coal have not been as positive, so earnings risk in the sector remains until all contracts have been finalized. The broker notes Macarthur Coal is the most susceptible to lower settlement prices, while Centennial Coal is likely to see the least impact on earnings.
However experts at Credit Suisse in a research update on the matter point out the metallurgical coal category involved only covers only the genuine premium HCC brands and encapsulates some of the BHP product Goonyella, Peak Downs and Saraji and other leading brands such as Xstratas Oaky Creek and Anglos Moranbah. The analysts believe recent market sentiment and expectation had been hoping for a rollover or at the worst a 3%4% price cut. Hence, they do not view the latest price indication as provided by industry magazine The Tex Report as a positive outcome.
JFE to raise capacity to 30 million tonnes
JFE Steel Corp plans to raise its annual crude steel output target by 10% to 30 million tons. It is reported that JFE Steel will try to achieve the higher output under its new three year business program starting in April. Japanese steelmakers are reducing their steel output at present due to deteriorating market conditions caused by excess supply from Chinese manufacturers.
JFE's crude steel production is seen dropping to around 27 million tons in fiscal 2005 that ends in March from the previous year's 27.65 million tons. JFE Steel will renovate a blast furnace in Fukuyama, Hiroshima Prefecture, by May and increase its capacity to 5,000 cubic meters from the current 4,288 cubic meters. It also plans to improve production efficiency at another western Japan plant, in Kurashiki, Okayama Prefecture. As a result, the combined crude steel output capacity at the two plants will reach 21.5 million tons, up 2.1 million tons from the fiscal 2004 level, the officials said.
Organization of Arcelor
Arcelor is the number one of the global steel industry with a turnover of 30 billion euros in 2004. The company holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry.
The company, number one steel producer in Europe and Latin America, ambitions to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its customers.
Arcelor employs 94,000 associates in over 60 countries.
Arcelor operates in four key market sectors: Flat Carbon Steel, Long Carbon Steel, Stainless Steel and Arcelor Steel Solutions & Services.
[b]Flat Carbon Steel[/b]
Arcelor Brasil - CST
Arcelor Brasil - Vega do Sul
Arcelor FCS Client Value Team (Auto & Industry)
Arcelor Packaging
Cockerill Sambre
Constructalia
CSTB
EKO Stahl
Galvalange
Magona (La)
OCAS
Sidmar
Sollac Miterran
Stahlwerke Bremen
[b]Long Carbon Steel[/b]
Acindar
Arcelor Brasil - Belgo
Arcelor Long Commercial
Arcelor RPS
Arcelor Sections Commercial
ARES
Constructalia
Huta LW
Stahlwerk Thringen
Trefilarbed
[b]Stainless Steel[/b]
Acesita
Arcelor Stainless International
HOOD
Imphy Alloys
IUP Jindal
IUP Stainless
Magis
Sprint Metal
Steel User
UGINE & ALZ
Ugine Savoie
Ugine Stainless & Alloys
UGINOX
Ugitech
[b]Arcelor Steel Solutions & Services[/b]
ACH
Acistim
Agrigam
Alfred Andr
Arcelor Bauteile
Arcelor Construcci Espa
Arcelor Projects
Arcelor Projects Belgium
Arcelor Projects Netherlands
ASPERSA
Avis Steel
Chaillous
Constructalia
Css Gruppe
Delta-Zinc
Dikema Staal
Disteel
Disteel Cold
DISTRISID
EKO Feinblechhandel
ESP
ETILAM
eurinter
Europerfil
globalFloor
GUILLOT
Haironville-PAB
Haironville Austria
Haironville Bohemia
Haironville Norge
Haironville Polska
Haironville Sverige
Haironville TAC
Kempes & Koolen Bouwsystemen
LARDIER
OXYBEL
OXYCOUPAGE ANGEVIN
PFF - Panneaux Frigorifiques Franis
PMA
Profil du Futur
PUM
P.W.S
Savoie-Mal
SIME
Skyline Steel
SLPM
Steel Coat Europe
[b]Other activities[/b]
Arcelor Logistics
Bail Industrie
Circuit Foil
Industeel
Paul Wurth
Paul Wurth Do Brasil
