|Mittal Steel news July 2006 - December 2006 |
Dec 27: ThyssenKrupp sues Mittal Steel
KOLKATA, INDIA -- "ThyssenKrupp of Germany has initiated summary legal proceedings against Mittal Steel Company. The proceedings were initiated in district court of Rotterdam on December 22, alleging Mittal Steel breached a January 26, 2006, letter of agreement between Mittal Steel and ThyssenKrupp with respect to the sale of Dofasco, the Canadian steelmaker, to ThyssenKrupp," The India Times.
Dec 22: Renewable energy offers new jobs
TOPEKA, KS -- "What if instead we took that same iron ore from Minnesota and shipped it to the Mittal Steel mill in Cleveland, the most efficient facility of its kind in North America. Because the mill is considerably smaller than it was at its peak, there is prime industrial land sitting unused around the facility. There's no reason why a wind turbine factory couldn't be built right there on the premises, with its products rolling out across the wind-rich Midwest," editorial, Carl Pope, Topeka Capital Journal.
Dec 21: Arcelor Mittal gets OK to build $9 billion India plant
BRUSSELS, BELGIUM -- "Arcelor Mittal, the world's largest steelmaker, said on Thursday it had signed an agreement to build a $9 billion plant in India to give it a first foothold on the subcontinent. The plant will have an annual production capacity of 12 million tonnes," Julien Ponthus, Reuters India.
BEIJING, CHINA -- Fuwa to promote Green Olympics, "A nationwide environmental awareness campaign featuring the 2008 Beijing Olympic mascots and Chinese celebrities will kick off early next year... It is funded by Arcelor Mittal, the world's largest steel producer, committed to promoting technologies on energy-efficiency and CO2 emission reduction, and the Royal Norwegian Embassy," China Daily.
Dec 20: Arcelor, Mittal buy Mexico's Sicartsa
BRUSSELS, BELGIUM -- "Arcelor and Mittal, which are in the process of combining to form the world's biggest steelmaker, announced Wednesday they have bought Mexico's Sicartsa from Grupo Villacero for $1.44 billion... 'With the Mexican market expected to grow by up to 6 percent per year over the next 10 years, this is the ideal time to expand our presence in this country,' said Arcelor Mittal CFO Aditya Mittal. 'We see significant potential for improving the profitability of Sicartsa,'" Associated Press.
Dec 17: Solidarity plans action to challenge Mittal’s pricing
SOUTH AFRICA -- "Pressue is mounting on Mittal Steel SA over alleged excessive pricing, with a second trade union threatening to embark on mass action in an attempt to force the steel producer into adopting a more equitable pricing model. The National Union of Metalworkers of SA (Numsa) has already filed an application with the National Economic Development and Labour Council for planned mass action. Solidarity said yesterday it would join Numsa in a protest against excessive pricing and in support of downstream industries," Mathabo le Roux, Business Day. Story orginally published December 15, 2006.
Dec 16: Possible bid by Arcelor Mittal
Worthington Industries shares up on speculation
COLUMBUS -- "Worthington Industries received a late-week stock bump after an analyst report said steel maker Arcelor Mittal might bid for the central Ohio company. The report by Prudential Equity Group said there is a 10 percent to 20 percent chance that Arcelor Mittal will offer $35 to $45 per share for Worthington. Wall Street reacted strongly because the estimated bid is about double Worthington’s share price, which rose to $20.42 yesterday," Paul Wilson, Columbus Dispatch.
Dec 14: Worthington stock up on takeover rumors
NEW YORK, NY -- "Shares of Worthington Industries Inc. rose more than 13 percent on Thursday on rumors the metals processor is a target for takeover by the world's biggest steelmaker, Mittal Steel... According to the Prudential note dated Dec. 13, Mittal has recently made public statements indicating that it is interested in owning U.S. steel distribution assets. An acquisition would enable Mittal to improve its on-time delivery here, analyst John Tumazos wrote in the note," Reuters.
Dec 12: Mittal faces lawsuit over Kazakh Karaganda mine blast
KAZAKHSTAN -- "Relatives of seven miners killed at a Kazakh coalmine owned by Arcelor Mittal, the world's largest steel maker, are suing for moral damages, Interfax-Kazakhstan news agency reported citing a lawyer for the victims. 'A class action... has been filed in Karaganda. The plaintiffs demand compensation for moral damage,' the lawyer, Yevgeny Tankov, was quoted as saying," AFX News.
KAZAKHSTAN -- Deadly explosion at mine in Kazakhstan likely caused by negligence, Pravda.
Dec 4: Arcelor Mittal sees improved 2007 results: CFO
AMSTERDAM -- "Arcelor Mittal, the world's biggest steel maker, expects to be able to increase profits in 2007, Chief Financial Officer Aditya Mittal told an industry conference on Monday. 'We just completed our budgetary sessions as Arcelor Mittal. Since we are a public company I cannot talk about numbers but it is a better year than in 2006,' he said. He said price weakness in the United States in the fourth quarter had already bottomed out, while prices in Europe should start to recover in the first quarter of 2007," Reuters.
Dec 3: Ancient steel mill gets new life
Asian magnate resurrects industry across the globe
SPARROWS POINT, MD -- "Its unclear whether Mittal will be allowed to keep Sparrows Point. His purchases have given him a lock on North American production of a type of steel called tin plate, used for cans. Mittal wants to sell a Canadian plant to resolve antitrust concerns, but the U.S. Justice Department could force him to sell a U.S. plant that makes tin plate, Sparrows Point being one," Chris Kirkham, Fort Wayne Journal-Gazette.
Nov 20: Steel is sizzling hot
NEW YORK, NY -- "Industry fundamentals are weak, as there are oversupply issues and cutthroat competition. However, the SIG Steel Producers index is up around 15% from a three-month low hit in the beginning of October.... investors are too optimistic about the speed at which steel's consolidation will occur. Integrating steel companies is not easy. Just ask Mittal Steel," Sanket Patel, TheStreet.com. Nov 16: Solidarity finds Polish partner
SOUTH AFRICA -- "South African trade union Solidarity has teamed up with its Polish namesake to create an international solidarity forum for trade unions that are organised within global steel maker Mittal Steel. 'When companies globalise, trade unions must globalise too,' Solidarity's deputy secretary-general Piet Plooy said, adding that Mittal Steel, which has plants in both South Africa and Poland, was a perfect example," Business Report.
Nov 14: Steel maker says its plan to sell unit is blocked
OTTAWA, CANADA -- "Dofasco’s uncertain situation is a holdover from Arcelor’s ultimately unsuccessful attempt to fend off a hostile takeover by Mittal. In March, Arcelor put control of Dofasco, a consistently profitable and efficient producer, into a Dutch foundation, Strategic Steel Stichting, which is controlled by three trustees. Similar foundations were used to keep European companies from falling under Nazi control during World War II. At the time, the shift was considered a defensive move by Arcelor because Mittal had planned to partly finance the acquisition by selling Dofasco to ThyssenKrupp," Ian Austin, New York Times.
LONDON, ENGLAND -- Arcelor-Mittal chokes on its own 'poison pill', H. S. Rao, Rediff India.
Nov 7: Mittal, Arcelor earn $2.18 billion
BRUSSELS, BELGIUM -- "Arcelor SA and Mittal Steel Co. NV said Monday they earned a combined $2.18 billion in the third quarter and announced that Mittal Chief Executive Lakshmi Mittal would become CEO of the combined steel company," Aoife White, Associated Press.
CLEVELAND -- Steel firms gain clout thanks to consolidation, Peter Krouse, Cleveland Plain Dealer.
MORE ON MITTAL STEEL
Nov 6: Lakshmi Mittal tightens grip on Arcelor Mittal steel group
PARIS, FRANCE -- "Lakshmi Mittal has been named chief executive officer of Arcelor Mittal, putting him clearly in control of the world's largest steel company but calling into question what was termed a merger of equals when the group was created four months ago," Forbes.
Nov 5: Mittal celebrates Arcelor deal in style
LONDON, ENGLAND -- "Indian-born steel tycoon Lakshmi Mittal threw a party costing thousands of pounds for all those who helped him secure the USD 43.6 billion Arcelor deal. The party was dubbed 'Mittal's 111 -- The Completion' and featured giant posters of the steel magnate and his business partners in the billboard pose made famous by George Clooney in the Hollywood movie Ocean's eleven," Daily News & Analysis.
Oct 30: Interview with Lakshmi Mittal
MUMBAI, INDIA -- "I know must of us cannot imagine what it must be like to have $29 billion, which equals 128,955 crores rupees. If you tried to count it, a rupee a second, day and night, it will take you 900 years to get there," part 1 of an April 30th interview with Lakshmi Mittal, Simi Garwal, Rendezvous.
Oct 25: Community newsletter
Mittal Steel USA - Cleveland
CLEVELAND -- "Mittal came to Cleveland in April 2005 by merging with the former owner, the International Steel Group. Since then, while increasing production and its economic impact, Mittal has reached out to its neighbors by participating in community initiatives and becoming partners with local organizations involved in housing, youth services and the environment," Mittal Steel USA Inc.
Oct 23: Mittal accused of creating a state within a state in Liberia
LONDON, ENGLAND -- "The report by the campaigning group Global Witness says that Mittal's strategy in the west African state of Liberia is a 'case study in which multinational corporations seek to maximise profit by using an international regulatory void to gain concessions and contracts which strongly favour the corporation over the host nation,'" David Pallister, The Guardian, published October 3, 2006.
Oct 19: Local news coverage of Mittal Steel good neighbor campaign video clip
CLEVELAND -- "Most of us drive by this plant every day and don't give a second thought to what's coming out of the smokestacks, but believe me, there's a lot more than just smoke coming out of those stacks, and the company doesn't want you to know about it," Blake Chenault, 19 Action News.
Oct 16: Steel lobby pushes to keep the tariffs in place
WASHINGTON, D.C. -- "The ads by the American Iron and Steel Institute are part of an effort to keep in place the tariffs that helped the industry recover from a crisis earlier this decade. At the same time, America's six largest automakers, major users of steel, are banding together on a trade issue for the first time, hoping to end tariffs on foreign steel," David Hammer, Cincinnati Post.
Oct 13: Adding green to the Mittal Steel landscape
CLEVELAND -- "Sandy Buchanan of Ohio Citizen Action thinks the reclamation project will do little to improve the air quality surrounding the mill...The problem, she says, are the emissions of sulfur dioxide and soot coming from the mill's smoke stacks. She says prairie grass will do little to stop those pollutants from blowing through the neighborhoods of 360,000 residents living within three miles of Mittal Steel," Lisa Ann Pinkerton, WCPN.
Oct 12: Mittal announces new environmental plan video clip
CLEVELAND -- "Mittal Steel held a press conference on Wednesday morning at their union hall. Public relations representative Chuck Glazer unveiled a new plan to plant native trees, shrubs, and brush around the steel mill in conjunction with the Cleveland Museum of Natural History. Neighbors of the plant and Ohio Citizen Action attended," Liz Ilg, Northeast Ohio Program Director, Ohio Citizen Action.
Watch all videos from the press conference
Oct 11: Mittal announces program to plant trees, shrubs, grasses on its property
CLEVELAND -- "For more than three years, the Cleveland steel plant has been the focus of a letter-writing, Good Neighbor Campaign by Ohio Citizen Action, which wants Mittal to clean up its smokestack emissions. 'Switchgrass won't fix the problems,' said Sandy Buchanan, the group's executive director. 'The problem is what's coming out of the stacks hundreds of feet off the ground,'" John Kuehner, Cleveland Plain Dealer.
Oct 6: Steelmaker Mittal closing 20% of its U.S. blast furnaces
CHICAGO, IL -- "Mittal said it will close one of its two blast furnaces in Cleveland and one of the five furnaces it operates at its Indiana Harbor complex in East Chicago. The company hasn't decided which specific furnace at each site will be closed, a spokesman said," James P. Miller, Chicago Tribune.
Oct 5: Mittal strikes deal with Kazak miners
TEMIRTAU, Kazakhstan -- "Mittal Steel NV struck a more than threefold pay raise deal with striking coal miners in Kazakhstan and separately offered a 20 percent pay raise to metal workers at its giant Temirtau mill, the company's CEO in the Central Asian country said Wednesday," Hemscott.
Oct 4: U.S. EPA cites Mittal over chemical spill
CLEVELAND -- "Mittal Steel Co. is facing a $28,430 fine from the U.S. Environmental Protection Agency for the late reporting of a hazardous chemical spill in April at a former International Steel Group site. The EPA has cited the steel producer for failing to report promptly a 1,271-pound release of sodium hypochlorite on April 24," Leslie Stroope, Crain's Cleveland Business. Published September 28, 2006.
Sep 30: Thousands of Arcelor Mittal workers in Kazakhstan protest, demand pay raises
TEMIRTAU, Kazakhstan -- "Thousands of steelworkers on Saturday joined striking miners of an Arcelor Mittal-owned metal and mining complex in Kazakhstan, in an escalating standoff with the international steel giant over wages. The Mittal Steel Temirtau coal miners went on strike Tuesday, demanding pay raises and improved safety after 41 miners were killed days ago in a methane gas explosion at the Lenin mine," International Herald Tribune.
Sep 27: Steel industry selling clean
Representatives from Nucor, others focus on recycling, advances
CHARLOTTE, NC -- "Forget the image of steel mills belching white smoke. Instead, picture steel as a high-tech, eco-friendly industry that's vital to the nation's defense and economy. That's the message a half-dozen steel-industry representatives, meeting in Charlotte on Tuesday, are eager to publicize," Tony Mecia, Charlotte Observer.
Sep 25: UAW, auto firms working to cut costs, save jobs
Union's new strategy relies on flexibility rather than defiance
CLEVELAND -- "The union weathered the loss of hundreds of jobs when Weirton Steel Corp. went bankrupt and again when it was revived by Cleveland-based International Steel Group. Two years ago, Netherlands-based Mittal Steel Co. bought out ISG. Like the United Steelworkers of America did with factories in Cleveland and elsewhere, the ISU worked closely with its new management to cut costs," Connie Mabin, Buffalo News.
Sep 21: 41 killed in methane explosion at Arcelor Mittal mine in Kazakhstan
SHAKHTINSK, KAZAKHSTAN -- "'We deeply regret this tragic accident and extend our full sympathy and condolences to the families of everyone that has been affected,' Arcelor Mittal's CEO Lakshmi Mittal said in statement," Tatiana Ten, Associated Press.
Sep 18: A jewel-encrusted asthma inhaler for the neighbors of Mittal Steel
CLEVELAND -- Ohio Citizen Action's booth at the Tremont Arts Fest this weekend featured a jewel-crusted inhaler for the neighbors of Mittal Steel. People stopping by the booth wrote letters urging steel mill owner Lakshmi Mittal, who lives in the most expensive residence in the world, to prevent pollution from the Cleveland Works plant. 165Kb Pdf.
Sep 15: Free newspaper to address Ohio environmental issues
CLEVELAND -- "Stefanie Spear will give a voice to Ohio's environmental issues.The 38-year-old Moreland Hills resident is editor of Earth Watch Ohio, a bimonthly color newspaper that will premiere Oct. 1. The paper's goal is to educate Ohioans about environmental issues and encourage them to take a more active role in protecting the environment," John Kuehner, Cleveland Plain Dealer.
Sep 11: Dear Lakshmi:
Neighbors write Mittal Steel owner
CLEVELAND -- "Enclosed please find letters written to you from the neighbors of your Cleveland Works facility, along with drawings for you from some of the neighborhood children. I do not know whether you have visited the Cleveland Works or the nearby neighborhoods, but I hope that you can picture the mill's location, less than a mile from Lake Erie and with residential areas on the hills all around it - some level with your smokestacks," Sandy Buchanan, Ohio Citizen Action.
WASHINGTON, D.C. -- Ads seek protection of steel jobs, Eric Pfeiffer, Washington Times. Article originally published September 8, 2006.
Sep 5: Nippon Steel is considering expanding Posco alliance
TOKYO, Japan -- "Nippon Steel Corp., the world's third- largest steelmaker, said it is studying expanding an alliance with South Korea's Posco... Steel producers across Asia are putting defensive measures in place to prevent being taken over by Mittal Steel Co.," Shigeru Sato and Finbarr Flynn, Bloomberg News.
Sep 1: Group enters 3rd year of fight to clean up Mittal Steel plant
A few of the 23,000 letters written to Mittal Steel by Northeast Ohioans.
CLEVELAND -- "Ohio Citizen Action is keeping the heat on Mittal Steel Co. to clean up its Cleveland plant. The group is entering the third year of its Good Neighbor Campaign, which argues that if the Cleveland mill is the steel company's most productive, it should be the cleanest, too. Nearly 400,000 people live within five miles of the plant, which rests in the Cuyahoga River valley not far south of Public Square," John Kuehner, Cleveland Plain Dealer.
Aug 29: New report shows how industries in Cuyahoga Valley could reuse and recycle waste
CLEVELAND -- "At the first Roundtable in January, 2006 -- with Zalcon, GEM, Alcoa, Alumitech, Metaloy, St. Mary's Cement, Mittal and Rocky Mountain Institute in attendance -- Ms. Harlan posed the question, 'Could one company's waste be another's food?,' The partcipants went around the room introducing themselves and stating what waste products they could sell and what materials they needed," Rocky Mountain Institute.
Aug 28: Huge flare this morning
CLEVELAND -- "Huge flare this morning. I snapped a picture of it. You can see it here. It would be nice to know how tall those stacks are, cuz this flare is as big or bigger than they are," Adam Harvey, Ohio Citizen Action.
Aug 25: Japan moves to help steelmakers avoid takeovers
TOKYO, JAPAN -- "Japan's trade ministry, worried about Mittal Steel's rapid growth, is exerting its influence to help the country's steel companies avoid hostile takeovers. The Ministry of Economy, Trade and Industry is stepping up pressure on the country's anti-monopoly watchdog to ease competition rules in order to allow more consolidation among Japanese steelmakers," Yuko Inoue, Reuters.
ROCKFORD, IL -- Billionaire Weddings -- Still, the grandest affair so far this century was hosted not by Trump or Arnault but by the world's fifth richest man, Indian steel baron Lakshmi Mittal, who threw a $60 million extravaganza, WREX-TV.
Billionaire weddings at Forbes.com.
Aug 22: Should shareholders be kings?
This concept needs to be re-examined following Mittals takeover of Arcelor
FRANCE -- "Where are our societies headed if company owners consider that quality is too expensive and workers must be made insecure to make them less demanding? A system governed by such rules is prone to give rise to various social conflicts, and perhaps violence," editorial, Michel Rocard, FianancialExpress.com. Posted online August 8, 2006.
New Management at Arcelor Mittal
Aug 18: 10 and 12 year old send message to Mittal
SILVER LAKE-- "As future taxpayers and voters in northeast Ohio and children who's air and environmental future is directly affected by your business practices, we are writing to ask you Mittal Steel Cleveland Works, to become leaders in the steel industry's pollution prevention standards," letter to plant manager Terry Fedor, Sophie (12) and Simon (10) Moskowitz, Ohio Citizen Action.
Aug 16: Schorsch to head new Arcelor Mittal division
Mittal Steel USA has new CEO
Aug 14: EPA cites Mittal Steel for clean-air violations
CHICAGO, IL -- "U.S. Environmental Protection Agency Region 5 has cited Mittal Steel USA Inc. for alleged clean-air violations at the company's steel mill, 250 W. U.S. Highway 12, Burns Harbor, Ind. EPA alleges that in 1994, Mittal modified a coke oven battery, resulting in a significant increase in sulfur dioxide emissions, without getting a state permit that would have required the best available technology to control the emissions," PR Newswire.
Aug 5: Mittal unveils management team
BRUSSELS, BELGIUM -- "The new Arcelor-Mittal steel group presented its management team on Friday, naming Arcelor veteran Roland Junck as chief executive and Aditya Mittal as chief financial officer. The worlds two largest steelmakers will each contribute another two members to the management board of the company, which is being formed after Arcelor yielded to Mittals $31.9 billion takeover in June following a bitter five-month battle,'" Mahoning Tribune-Chronicle.
Aug 4: Mittal faces steel plant sale to appease regulators
LONDON, ENGLAND -- "Mittal Steel could be forced to sell a main US production site as the world's biggest steelmaker seeks to meet competition regulators' demands over its $34.4bn acquisition of rival Arcelor," Sarah Laitner in Brussels and Rebecca Bream in London, Euro2day.com.
Aug 1: Letter to Mittal Steel
WESTLAKE -- "You have achieved great success in productivity at your facility! Won't you please strive for success in the realm of pollution control?," letter to Mittal Steel plant manager Terry Fedor, Ann Lew, Ohio Citizen Action.
Jul 31: Mittal accident kills county resident
BURNS HARBOR, IN -- "A LaPorte County resident died as the result of an accident at Mittal Steel in Burns Harbor on Friday. Kevin Sullivan, 50, was killed after he was caught between the coke battery and a machine that opens doors to the facility, according to David C. Allen, a spokesman for Mittal," Scott M. Lawson, Michigan City News Dispatch.
Jul 26: Big hopes for biggest steelmaker
Many variables remain, but locals remain optimistic over impact of Mittal's merger with Arcelor
CHICAGO, IL -- "The effect on Mittal Steel USA generally will be positive, according to employees and some industry insiders. 'Other than building a stronger global company, it shouldn't matter very much to employees and to Mittal Steel USA,' said Chicago-based company spokesman David Allen," Andrea Holecek, Northwest Indiana Times.
LONDON, ENGLAND -- Mittal Steel says it now owns 92% of Arcelor, Tender of the shares ends six-month takeover battle, Aude Lagorce, MarketWatch.
Jul 23: Slow death: What happens to workers when industry moves on?
WEIRTON, WV -- "The mill changed hands twice in the next 18 months, swapped by billionaires Wilbur Ross and Lakshmi Mittal like pieces on a Monopoly board. Weirton had become part of the world's largest steel company, but within months, Mittal told investors he would slash his work force by 45,000. The cuts, he said, would be mostly overseas," Vicki Smith, Akron Beacon Journal.
LONDON -- "Controversy surrounds a Romanian steel plant bought by tycoon Lakshmi Mittal, with a report on Sunday saying that scores of workers had died or were injured in accidents on the site. Some 25 people have been killed and another 254 injured at the Galati plant in eastern Romania ever since it was bought in late 2001 by Mittal," Press Trust of India.
Jul 9: Pulling together in a labor of trust
CLEVELAND -- "In the Cleveland Works today, there are no time clocks. On night shifts, there are no supervisors. Day or night, workers are expected to be the front-line decision-makers, and supervisors are supposed to give them the reins. Mistakes are supposed to be a chance to learn, not blame someone," Joe Frolik, Cleveland Plain Dealer.
Jul 6: High pension costs hurt business
CLEVELAND -- "LTV was the pattern for the steel industry. LTV showed how you could lock up all the assets, so that, essentially, the company could say, we're broke, the cupboard is bare, there's nothing here, and breach all the promises then to the employees and retirees, and use those assets, put them back into operation, to create a newer, more profitable company,'" Hedrick Smith, Frontline.
Jul 2: Test for Mittal: Is bigger better?
CLEVELAND -- "For Mittal Steel's Cleveland Works - revived from LTV's ashes by pioneer consolidator Wilbur Ross before he sold to Mittal - the short-term impact of the new deal should be negligible. Mittal says this is the most productive steel plant in the world, and Arcelor has only one North American property. So there's little reason to tamper with operations here," editorial, Cleveland Plain Dealer.
Mittal Steel news from Jan-Jun 2006, Jul-Dec 2005, Jan - Jun 2005, 2004