traded as euronext mt nyse mt bmad mts luxse mt industry steel predecessor arcelor mittal steel company founded 2006 ; 10 years ago 2006 headquarters 19 avenue de la libert luxembourg luxembourg area served worldwide key people lakshmi mittal chairman and ceo aditya mittal cfo products finished semi finished long and flat products such as slabs hot rolled coil cold rolled coil coated steel products tinplate and heavy plate as well as billets blooms rebars wire rod sections rails sheet piles and drawn wire revenue us 63.57 billion 2015 1 operating income us 4.16 billion 2015 1 profit us 7.94 billion 2015 1 total assets us 76.84 billion 2015 1 total equity us 25.27 billion 2015 1 number of employees 219 000 2015 1 website www.arcelormittal.com arcelormittal s.a. french pronunciation a s l mi tal is a luxembourg based multinational steel manufacturing corporation headquartered in avenue de la libert luxembourg . it was formed in 2006 from the takeover and merger of arcelor by mittal steel . arcelormittal is the world s largest steel producer with an annual crude steel production of 98.1 million tons as of 2014 update . 2 it is ranked 108th in the 2016 fortune global 500 ranking of the world s biggest corporations . 3 contents 1 history 1.1 plant closings and scale backs 1.2 price fixing convictions 1.3 arbitration agreement for reneging on contract with senegal 1.4 other history 2 company structure and subsidiaries 2.1 headquarters 2.2 employees 3 major plant locations 3.1 joint ventures with nippon steel 4 see also 5 references 6 external links history edit arcelormittal was created by the takeover of western european steel maker arcelor spain france and luxembourg by indian owned multinational steel maker mittal steel in 2006 at a cost of 40.37 per share approximately 33 billion total . mittal steel launched a hostile takeover bid which replaced a previous planned merger between arcelor and severstal which had lacked sufficient shareholder approval . the resulting merged business was named arcelormittal and is headquartered in luxembourg . 4 5 the resulting firm produced approximately 10 % of the world s steel and was by far the world s largest steel company . total revenues in 2007 were 105 billion . 6 7 in october 2008 the market capitalisation of arcelormittal was over 30 billion . 8 plant closings and scale backs edit in december 2008 arcelormittal announced several plant closings including the bethlehem steel plant in lackawanna new york and ltv steel in hennepin illinois . citation needed after purchase of kryvorizhstal ukraine s largest steel producer employment was scaled back from 57 000 employees to 30 000 . price fixing convictions edit the firm was part of a 17 steel member groups nicknamed club z rich that later became known as club europe . for a period of 18 years the companies fixed the market prices and exchanged confidential corporate information . according to joaqu n almunia a european union commission vice president it is amazing how such a significant number of companies abused nearly the entire european construction market for such a long time and for such a vital product . this was almost as if they were acting in a planned economy . 9 fines were particularly high for the firm owing to two prior convictions . in august 2016 the south african competition commission found the company guilty of price fixing following an investigation first launched in 2008 . arcelormittal was fined r1 .5 billion equivalent to us 110.9 million to be paid over a 5 year period . as part of the settlement the firm also agreed to invest r4 .64 billion in capital over five years . 10 arbitration agreement for reneging on contract with senegal edit the firm entered into a 2.2 billion contract to develop an iron ore deposit in senegal . this included construction of a 750 km 466 mi railway line . after stalling on the contract and failing to build according to schedule the government of senegal sued . in june 2014 the international chamber of commerce s arbitration court in paris awarded senegal 150 million . 11 other history edit on 26 january 2011 the stainless steel division split off as a new company aperam . citation needed in 2012 the company had 22 billion of debt . 12 as of 2012 update due to overcapacity and reduced demand in europe it had idled 9 of 25 blast furnaces ; 12 in october 2012 it permanently shut down two blast furnaces at florange france . 13 on october 31 2012 the company reported a third quarter loss of 709 million as compared to a 659 million profit for the same period a year ago citing the slow down in china s economy . 14 in january 2013 arcelormittal bid 1.5 billion to acquire thyssenkrupp ag s rolling mill in calvert alabama united states . 15 the joint venture with nippon steel & sumitomo metal corporation was finalized in february 2014 . 16 in september 2013 the government of senegal won a court case before an international tribunal to rescind a 2.2 billion deal with arcelormittal after the company suspended work on an iron ore mine in the country . 17 in may 2014 arcelormittal citing economic self interest declared its opposition to sanctions on russia . 18 company structure and subsidiaries edit lakshmi mittal owner of mittal steel is the chairman and ceo . his family owns 40 % of the shares and voting shares in the company . 19 after a 3 billion rights issue earlier in april 2016 the company by the 21 april 2016 had a share value of 16 616 million euros distributed in 3 065 710 869 shares . 20 headquarters edit the head office of arcelormittal is in luxembourg city . the building was the head office of arbed before that company merged with aceralia and usinor . 21 headquarters of arcelormittal in luxemburg city employees edit as of 31 december 2013 the company employed over 232 000 people of which 37 % were in the eu with a further 16 % in non eu european countries 17 % in asia 16 % in north america the remainder split between south america and the middle east and africa . 22 arcelormittal is also luxembourg s largest private employer . at the beginning of 2014 it employed 4 600 employees in the grand duchy . 23 arcelormittal ostrava . major plant locations edit ispat international mittal steel company international steel group bethlehem steel republic steel ltv steel acme steel arcelor aceralia usinor arbed aperam south america 2007 2011 acesita arcelormittal a os longos belgo mineira arcelormittal kryvyi rih aktau temirtau ostrava katowice steelworks tadeusz sendzimir steelworks hunedoara steel works gala i steel works el hadjar complex ouenza mine dofasco joint ventures with nippon steel edit new carlisle indiana usa built 1991 24 am ns calvert . formerly named thyssenkrupp steel usa and located in calvert alabama the facility was purchased from thyssenkrupp through a 50 50 joint partnership with nippon steel & sumitomo metal corp in february 2014 for 1.5 billion and renamed am ns calvert . 25 a greenfield construction project which began in 2007 the facility began operation in 2010 and has a production capacity of 5.3 million tons and includes a hot strip mill cold roll mill and 4 coating lines . products from the facility are marketed in the nafta region through managing partner arcelormittal . 26 see also edit arcelormittal orbit list of steel producers references edit a b c d e f 4q 2012 and fy 2012 results . arcelormittal . 6 february 2016 . top steel producing companies 2012 . world steel association . retrieved 2013 11 10 . 91 . arcelormittal global 500 our annual ranking of the world s largest corporations cnn kanter james ; timmons heather ; giridharadas anand 25 june 2006 arcelor agrees to mittal takeover new york times lenard david m. 7 june 2006 arcelor mittal the dawn of a steel giant wwww.atimes.com asia times online steel firm opts for mittal offer bbc news 25 june 2006 de smedt seraf ; van hoey michel february 2008 integrating steel giants an interview with the arcelormittal postmerger managers www.mckinseyquarterly.com yahoo finance arcelormittal finance.yahoo.com . archived from the original on 27 october 2008 . european commission press releases press release corrected1 antitrust commission fines prestressing steel producers 269 million for two decades long price fixing and market sharing cartel . smith carin 22 august 2016 . arcelormittal to pay r1 .5 bn price fix fine . fin24 . retrieved 2016 08 23 . http af.reuters.com article senegalnews idafl6n0on31b20140606 update 1 senegal to receive 150 mln in damages from arcelormittal journal reuters date june 6 2014 authors diadie ba in dakar and silvia antonioli in london ; writing by bate felix ; editing by daniel flynn a b reed stanley 25 july 2012 a global steel giant scales back new york times kessler vincent 1 october 2012 arcelormittal confirms french furnace closures uk.reuters.com steelmaker arcelormittal posts 709m 3q loss . . the new york times . reuters 17 january 2013 . arcelormittal bids 1.5 billion for thyssenkrupp s alabama plant . reuters . finch ii michael 26 february 2014 . sale of thyssenkrupp steel usa clears all regulatory approval . the press register . retrieved 26 february 2014 . senegal wins court case against arcelor mittal government international reuters 2013 arcelormittal opposes western sanctions against russia reuters 2014 shareholding structure arcelormittal retrieved 5 october 2012 the following table sets forth information on 30 september 2012 with respect to the beneficial ownership and voting rights of arcelormittal shares http corporate.arcelormittal.com news and media press releases 2016 apr 04 04 2016b arcelor mittal un si ge au luxembourg in french le journal du net retrieved 5 october 2012 arcelormittal annual review 2013 arcelormittal allocation of employees at december 31 2013 according to geographical location les plus gros employeurs du luxembourg sont ... www.lessentiel.lu in french 2 july 2014 arcelormittal and nippon steel corporation announce 240 million expansion at i n kote in new carlisle indiana . bloomberg l.p. 16 april 2008 . retrieved 26 february 2014 . finch ii michael 26 february 2014 . sale of thyssenkrupp steel usa clears all regulatory approval . press register . mobile alabama . retrieved 26 february 2014 . arcelormittal am ns calvert webpage . external links edit wikinews has related news arcelor declares merger with mittal steel official website v t e euro stoxx 50 companies of the euro area last update october 2015 air liquide airbus group allianz anheuser busch inbev asml holding assicurazioni generali axa banco bilbao vizcaya argentaria banco santander basf bayer bmw bnp paribas carrefour saint gobain daimler ag deutsche bank deutsche post deutsche telekom enel engie sa eni e.on essilor international fresenius se groupe danone iberdrola inditex ing group nv intesa sanpaolo l or al lvmh mo t hennessy louis vuitton m nchener r ckversicherungs gesellschaft nokia orange s.a. philips electronics safran sanofi sap se schneider electric siemens soci t g n rale sa telefonica total s.a. unibail rodamco unicredit unilever vinci sa vivendi volkswagen group v t e cac 40 companies of france last update 6 january 2016 accor air liquide airbus group alstom arcelormittal axa bnp paribas bouygues capgemini carrefour cr dit agricole danone edf essilor engie kering l or al lafargeholcim legrand lvmh michelin nokia orange pernod ricard peugeot publicis renault safran saint gobain sanofi schneider electric soci t g n rale solvay technip total unibail rodamco valeo veolia environnement vinci vivendi v t e aex companies of the netherlands aegon ahold air france klm akzo nobel aperam arcelormittal asml boskalis corio dsm fugro heineken ing kpn philips postnl randstad relx royal dutch shell sbm offshore tnt express unibail rodamco unilever wolters kluwer v t e luxx index companies of luxembourg aperam arcelormittal brederode luxempart reinet investments rtl group ses socfinaf socfinasia v t e ibex 35 companies of spain