ArcelorMittal announces US$1.0 billion three-year investment programme in Mexico
(Thomson Reuters ONE) -
ArcelorMittal S.A. /
ArcelorMittal announces US$1.0 billion three-year investment programme in Mexico
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
28 September 2017 - ArcelorMittal ('the Company') today announces a major US$1
billion, three-year investment programme at its Mexican operations, which is
focussed on building ArcelorMittal Mexico's downstream capabilities, sustaining
the competitiveness of its mining operations and modernising its existing asset
base. The programme is designed to enable ArcelorMittal Mexico to meet the
anticipated increased demand requirements from domestic customers, realise in
full ArcelorMittal Mexico's productive capacity of 5.3 million tonnes and
significantly enhance the proportion of higher-value added products in its
product mix, in-line with the Company's Action 2020 strategic plan.
The main investment will be construction of a new hot strip mill. Construction
will take approximately three years and, upon completion, will enable
ArcelorMittal Mexico to produce c. 2.5 million tonnes of flat rolled steel.
Coils from the new hot strip mill will be supplied to domestic, non-auto,
general industry customers. Further investments will be made at Lázaro Cárdenas
to improve the quality and productivity of the asset base, with additional
investment in the group's Mexican mining operations.
Today's announcement follows confirmation that the Mexican government has
established five Special Economic Zones (SEZ) in southern Mexico to attract
infrastructure investment in areas of undeveloped economic potential. Lázaro
Cárdenas, home to ArcelorMittal Mexico's primary steelmaking operations, was
named a SEZ.
Commenting, Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said:
"In order to make investment decisions of the scale we have announced today we
need both a favourable investment environment and confidence in long-term
domestic growth prospects. I therefore warmly welcome the confirmation of the
Special Economic Zones by the Mexican government, which establishes a positive
regulatory investment framework aimed at facilitating economic and
infrastructure development in the south of the country. Our investment programme
is aligned with the Mexican government's objectives, and will enable us to
benefit from the anticipated increased demand for higher-added value steel
products from domestic Mexican customers. It reinforces our long-standing
presence in Mexico, will support the creation of approximately 800 new jobs and
play an important role in bolstering economic activity in the region."
Victor Cairo, CEO, ArcelorMittal Mexico, added:
"Construction of the new hot strip mill, alongside the other projects in our
investment programme which are geared towards enhancing the efficiency and
quality of our operations, will enable us to optimise our asset base and
increase the proportion of finished steel products for our domestic customers.
The investments will help us to meet the demand requirements for higher-added
value products we expect to see from domestic customers, which today are heavily
dependent on imports, while continuing to support ArcelorMittal's NAFTA
operations by providing high-quality semi-finished steel slabs."
ArcelorMittal Mexico currently produces c. 4 million tonnes of steel a year.
Following completion of the investment programme, production would be optimised
to c. 5.3 million tonnes per year, with the proportion of finished steel for the
domestic Mexican market significantly expanded. Flat rolled steel production
would total c. 2.5 million tonnes, long steel c. 1.8 million tonnes with the
remaining 1 million tonnes made up of semi-finished slabs.
Ends
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence
in 60 countries and an industrial footprint in 18 countries. Guided by a
philosophy to produce safe, sustainable steel, we are the leading supplier of
quality steel in the major global steel markets including automotive,
construction, household appliances and packaging, with world-class research and
development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components people use in their everyday lives more energy efficient.
We are one of the world's five largest producers of iron ore and metallurgical
coal. With a geographically diversified portfolio of iron ore and coal assets,
we are strategically positioned to serve our network of steel plants and the
external global market. While our steel operations are important customers, our
supply to the external market is increasing as we grow.
In 2016, ArcelorMittal had revenues of $56.8 billion and crude steel production
of 90.8 million tonnes, while own iron ore production reached 55.2 million
tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT),
Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona,
Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
+------------------------------------------------------------------------------+
| |
| |
| |
|Contact information ArcelorMittal Investor Relations |
| |
| |
| |
|Europe +442075431123 |
| |
|Americas +13128993985 |
| |
|Retail +442075431123 |
| |
|SRI +442075431123 |
| |
|Bonds/Credit +33171921026 |
| |
| |
+------------------------------------------------------------------------------+
| |
| |
|Contact information ArcelorMittal Corporate |
|Communications |
| |
| |
|E-mail: press(at)arcelormittal.com|
| |
|Phone: +442076297988 |
| |
| |
+------------------------------------------------------------------------------+
| |
| |
|ArcelorMittal Corporate Communications |
| |
| |
| |
|Paul Weigh +442032142419 |
| |
| |
| |
| |
| |
|France |
| |
|Image 7 |
| |
|Sylvie Dumaine / Anne-Charlotte Creach +33153707470 |
+------------------------------------------------------------------------------+
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ArcelorMittal S.A. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.09.2017 - 22:45 Uhr
Sprache: Deutsch
News-ID 561834
Anzahl Zeichen: 11023
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 238 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ArcelorMittal announces US$1.0 billion three-year investment programme in Mexico"
steht unter der journalistisch-redaktionellen Verantwortung von
ArcelorMittal S.A. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
