ArcelorMittal Denies Intention to Sell Brazilian Assets
02/09/2009 - ArcelorMittal responds to media rumors by issuing statement denying any intention to sell Brazilian operations.
In a published statement, ArcelorMittal categorically denied any intention to sell its Brazilian assets, “contrary to rumors reported in the Brazilian media.”
The company said that its Brazilian operations are “amongst the most competitive steel operations in the Worlds” and stated that they “are at the heart of the Group’s strategy”.
ArcelorMittal is the world's largest steel company, with over 326,000 employees in more than 60 countries. The company leads a number of major global steel 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. With an industrial presence in over 20 countries spanning four continents, the company covers key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. Recognizing its responsibility for tackling the global climate change challenge, ArcelorMittal takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2007, ArcelorMittal had revenues of $105.2 billion and crude steel production of 116 million tonnes, representing around 10% of world steel output.
