ArcelorMittal chairman and CEO Lakshmi Mittal issues tenth anniversary statement

ArcelorMittal S.A. / ArcelorMittal chairman and CEO Lakshmi Mittal issues tenth anniversary statement . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

"Steelmaking is our passion and it is this passion that will continue to drive ArcelorMittal for many years to come" 

London, 1 August 2016

On 1 August 2006, Arcelor and Mittal Steel merged to create the world's leading steel company. Today, the company is marking its ten-year anniversary. 

Some key numbers:

• Global economic contribution in excess of US$700bn 
• More than 890 million tonnes of finished steel products, shipped to customers in more than 160 countries
• More than 250 new steels invented, R&D spend of US$2.5bn
• Recycled 260 million tonnes of steel, saving 341 million tonnes of CO₂
• Lost time injury frequency rate of 0.78, down from 3.1

Looking back on the past decade Mr Lakshmi N. Mittal, chairman and CEO said:

"Ten years ago today marks the official merger of Arcelor and Mittal Steel, resulting in the creation of ArcelorMittal: the world's largest steel and mining company.

"The logic for the merger was that the combined business would enjoy numerous advantages: geographic and product diversification, reducing volatility; the ability to supply global customers and access high value-added, long-term contracts; leadership in key product segments such as automotive; and access to the lower costs and high growth of emerging markets.

"Much has changed since that time and many of the past ten years have been tough for commodity and industrial companies, including steel companies. But the logic of the merger is as sound today as it was in 2006 and I am convinced it helped us to navigate this highly challenging environment and remain the world's leading steel and mining company. 

"The past ten years have defined the spirit and culture of our company and showcased our resilience, our strength, our knowledge and our capability to respond swiftly.  We have reshaped our asset base, we have improved our competitiveness, we have improved our safety performance, we have strengthened our balance sheet and we have invested in innovative products for the future.  We have faced tough market conditions but in many ways we are a stronger company, better positioned for the future with world-class assets and a clear strategy that will enable us to outperform in all market conditions.