Sunday, March 4, 2007
Mittal Predicts Fresh Wave of Steel Industry Takeovers
Mittal Predicts Fresh Wave of Steel Industry Takeovers
David Gow in Luxembourg, Guardian Unlimited
February 22, 2007
Arcelor Mittal, the world's largest steel-maker, yesterday forecast it would deliver even stronger profits in its first full year as a combined group after posting $15.3bn (£7.8bn) pre-tax earnings in 2006, up from $15bn in 2005.
Confirming his group is in a battle with Anglo American and Rio Tinto to take Indian iron ore exporter Sesa Goa for about $1bn, Lakshmi Mittal, chief executive of Arcelor Mittal, also forecast a new wave of takeovers in the global steel industry after Mittal's takeover of Arcelor and Tata's purchase of Corus Steel.
More from this Guardian Unlimited report
David Gow in Luxembourg, Guardian Unlimited
February 22, 2007
Arcelor Mittal, the world's largest steel-maker, yesterday forecast it would deliver even stronger profits in its first full year as a combined group after posting $15.3bn (£7.8bn) pre-tax earnings in 2006, up from $15bn in 2005.
Confirming his group is in a battle with Anglo American and Rio Tinto to take Indian iron ore exporter Sesa Goa for about $1bn, Lakshmi Mittal, chief executive of Arcelor Mittal, also forecast a new wave of takeovers in the global steel industry after Mittal's takeover of Arcelor and Tata's purchase of Corus Steel.
More from this Guardian Unlimited report
Labels: lakshmi-mittal, steel
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