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October 24, 2021
BUSINESS

Steel Plant in Galati celebrates 50 years. Lakshmi Mittal: „ArcelorMittal remains committed to Galati and to Romania and will continue to invest in the business, building on the €400m that has been invested in the Galati Unit since 2009”

Lakshmi Mittal, Chairman and Chief Executive Officer of ArcelorMittal addressed a letter to the Galati steel-makers with the occasion of celebrating 50 years of history of the Plant.

“October 2016 represents an important milestone in the history of ArcelorMittal Galati. 50 years ago, the first heavy plate was produced here and shipped to the customer. As a happy coincidence, two other important events are also celebrated this year, namely 10 years since ArcelorMittal was created – forging the world’s leading steel company – and 15 years since Mittal Steel purchased the Galati Plant’s shares from the Romanian State”, said Lakshmi Mittal. “It is clear to me that our people in Galati have managed, over the last five decades, to overcome hardships and – with professionalism, resilience and courage – to ensure the continuity of steel production”.

“The quality of the people was one of the key reasons that led to the purchase, in 2001, of the unit in Galati by Mittal Steel. In the years that followed, we have been through many challenges. After a relatively good period, a turning point came in 2008 when structural changes occurred in our business following the global financial crisis and a paradigm shift in steel demand (…)  After several years of hard work and commendable team work, last year we saw the first positive results of the fundamental transformation of the Galati unit. I am fully aware of the changes and efforts you have made to improve the situation”, said the Chairman of ArcelorMittal.

“We will support you in these ongoing efforts. ArcelorMittal remains committed to Galati and to Romania. One of the major advantages of being part of a global company is having scale and scope which means know-how from our units around the world can be brought to Galati. We will also continue to invest in the business, building on the €350m that has been invested in the Galati Unit since 2009”.

 

About ArcelorMittal

 

ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and an industrial footprint in 19 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 the core values of sustainability, quality and leadership, the company  operates responsibly with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates.

“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 and our mining business is an essential part of our growth strategy. 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,” reads a company’s release.

In 2015, ArcelorMittal had revenues of US$63.6 billion and crude steel production of 92.5 million tonnes, while own iron ore production reached 62.8 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).

 

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