ArcelorMittal’s XCarb® Innovation fund invests in Utility Global to progress its gas processing technology 25 September 2024, 16:00 CET ArcelorMittal (the ‘Company’) today announces it has invested $5 million in Utility Global through its XCarb® Innovation Fund. The Fund, launched in 2021, invests in companies developing disruptive technologies that have the potential to support the decarbonisation of steelmaking. The investment is part of Utility Global’s $53 million Series C fundraising round, led by Onta ...

Event highlights India’s position as world’s fastest growing steel market and AM/NS India’s vision to become the benchmark for quality, scale and sustainability in Indian steelmaking 25 September 2024, 11:30 CET ArcelorMittal today hosted an investor day at AM/NS India’s flagship plant in Hazira, Gujarat. The event provided members of the investment community with the opportunity to witness first-hand the progress AM/NS India – a 60/40 joint venture between ArcelorMittal and Nippon Steel – is making with th ...

HJBC ArcelorMittal's (NYSE:MT) Q2 2024 performance showed resilience, with the company achieving an EBITDA of $1.5 billion despite the impact of lower steel prices across all divisions. Although management expects a further EBITDA decline in Q3 due to continued price pressures and weak demand, steel prices appear to have stabilized at a cyclical low. Indeed, signs of market correction, such as trade protections and potential production cuts in China, position ArcelorMittal well for a rebound. The compan ...

Deutsche Bank analyst Bastian Synagowitz upgraded Arcelor Mittal NY MT to Buy from Hold and raised the price target from $29 to $31.Per the analyst, 75% of Arcelor Mittal’s steel earnings are tied into attractive markets that trade at a premium to the company.Despite this, valuation multiples of 3-4x EV/EBITDA are (wrongly) held hostage by the European business (literally priced at zero), the analyst writes.Synagowitz writes, weaker developed markets and a slowing Chinese sector have led to a significant co ...

ArcelorMittal (MT) Brazil has signed contracts for developing two solar energy projects with a combined capacity of 465MW, which is equivalent to 14% of its current electricity requirements.The first project builds on ArcelorMittal Brazil's existing relationship with Casa dos Ventos, one of Brazil's largest developers and producers of renewable energy projects, with whom it signed a joint venture deal in April last year for the development of a 554MW wind power project that is scheduled to be commissioned b ...

StefanoZaccaria Dear readers/followers, It's time for another update on steel company ArcelorMittal (NYSE:MT). This is a business I've been covering for a number of years at this point, and have been investing in for some time as well. While I've already established a position, I believe the time has come for me to expand on that position even further. The reason? Valuation - the company has now dropped to levels where I would definitely consider the company not only cheap, but very cheap, and definitel ...

ArcelorMittal S.A. (MT) recently completed the acquisition of 65,243,206 shares, representing approximately 28.4% equity interest in Vallourec. This follows the signing of a Share Purchase Agreement on Mar 12, 2024, and the subsequent approval from relevant antitrust authorities and clearances under foreign investment regulations. The shares were acquired at €14.64 per share from funds managed by Apollo Global Management Inc for a total consideration of approximately €955 million (roughly $1,043 million), s ...

06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% equity interest in Vallourec, for €14.64 per share from funds managed by Apollo Global Management Inc., for a total consideration of approximately €955 million, subject to successful completio ...

06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% equity interest in Vallourec, for €14.64 per share from funds managed by Apollo Global Management Inc., for a total consideration of approximately €955 million, subject to successful completio ...

02 August 2024, 18:00 CET ArcelorMittal (the ‘Company') has today published its half-year report for the six-month period ended 30 June 2024. The report is available on http://corporate.arcelormittal.com/ under Investors > Financial reports > Half-year reports, and on the electronic database of the Luxembourg Stock Exchange (www.bourse.lu/). The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on http://corporate.arcelormittal.com/ under Investor ...