ArcelorMittal S.A. is a Luxembourgian multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel.[3] ArcelorMittal is the second largest steel producer in the world, with an annual crude steel production of 88 million metric tonnes as of 2022.[5] It is ranked 197th in the 2022 Fortune Global 500 ranking of the world’s largest corporations. It employs directly and indirectly 200,000 people and its market capital is $25 billion.[6] The total value of company assets is estimated to be around $100 billion.
Products and activities
Steel being coiled at an ArcelorMittal facility in Brazil.
The company is involved in research and development, mining, and steel.[7] ArcelorMittal in 2016 produced around 90 million tons of steel.[8] As of May 2017, the company made 200 unique steel grades for automotive purposes, half of which were introduced since 2007.[9] Among the steel varieties are Usibor 2000, which the company announced in June 2016 and released later that year. Upon release, the high-strength automotive steel was said to be about one-third stronger than other steels then available for carmaking.[10]