Last 2,812
Change Today +190.00 / 7.25%
Volume 1.3M
As of 10:00 AM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

arcelormittal south africa (ACL) Snapshot

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02/12/14 - $4,850
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arcelormittal south africa (ACL) Details

ArcelorMittal South Africa Limited manufactures and sells long and flat steel products, and by-products primarily in South Africa. It operates through Flat Steel Products, Long Steel Products, and Coke and Chemicals segments. The company provides hot rolled sheet in coils and steel plates; cold rolled and color coated steel sheet in coils; hot dip and electro-galvanised steel sheet in coils; tin plate coils; and hot rolled and ultra thin hot rolled coils. It also offers billets and blooms; round ingots; straight and coiled bars; grinding media steel products; carbon steel products; fastener steel products; carbon-structural steel products; alloy-structural steel products; hot and cold-work tool steel products; hollow-drill steel products; automotive spring steel products; forging quality steel products; and stainless steel products, as well as seamless line pipes, casings, and tubing products. In addition, the company provides forge products, including rounds, squares, flats, thick-wall tubes, step forgings, rings, disks, blocks, tool steels, stainless steels, hollow-bars, and rise bore pipes, as well as structural sections and rails. Further, it offers coal tar products for use in wood preservatives, road binders, pitch, paint, primary raw materials, absorbents, specialty tars, and fuels; carbon reductants; and steel by-products, such as blast furnace slag, mill scale, and ammonium sulphate, as well as involved in the acid regeneration activities. The company serves automotive, construction, household appliances, and packaging markets. ArcelorMittal South Africa Limited also exports its products primarily to sub-Saharan Africa and Asia. The company was formerly known as Mittal Steel South Africa Limited and changed its name to ArcelorMittal South Africa Limited in October 2006. The company was founded in 1928 and is headquarter in Vanderbijlpark, the Republic of South Africa. ArcelorMittal South Africa Limited is a subsidiary of ArcelorMittal Holdings AG.

8,865 Employees
Last Reported Date: 03/29/14
Founded in 1928

arcelormittal south africa (ACL) Top Compensated Officers

Chief Financial Officer and Executive Directo...
Total Annual Compensation: R2.8M
Chief Operating Officer and Executive Directo...
Total Annual Compensation: R2.3M
General Manager of Human Resources
Total Annual Compensation: R1.8M
General Manager of Procurement & Logistics
Total Annual Compensation: R2.7M
General Manager of Corporate Affairs
Total Annual Compensation: R2.5M
Compensation as of Fiscal Year 2013.

arcelormittal south africa (ACL) Key Developments

ArcelorMittal South Africa Limited Announces Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Production Guidance for the Fourth Quarter of 2014

ArcelorMittal South Africa Limited announced production results for the third quarter and nine months ended September 30, 2014. For the quarter, liquid steel production was 1,021,000 tonnes compared to 1,361,000 tonnes a year ago. Steel sales were 1,038,000 tonnes compared to 1,134,000 tonnes a year ago. Commercial coke sales were 104,000 tonnes compared to 32,000 tonnes a year ago. For the nine months, liquid steel production was 3,407,000 tonnes. Steel sales were 3,233,000 tonnes. Commercial coke sales were 312,000 tonnes. The company provided production guidance for the fourth quarter of 2014. The company announced that total steel capacity utilization is expected to move back above 80% as all other units will maintain their current production levels.

Arcelormittal South Africa Limited Announces Resignation of Sudhir Maheshwari as Non-Executive Director, Effect from March 31, 2015

ArcelorMittal South Africa announced that Mr. Sudhir Maheshwari has resigned as a non-executive director of company with effect from March 31, 2015. Sudhir, member of the ArcelorMittal Group Management Board, with responsibility for corporate finance; mergers, acquisitions and divestments; risk management; and India and China, is leaving the Group to pursue other opportunities effective 31 March 2015.

Government To Sell Stakes In Publicly Traded Companies

The government of South Africa would consider selling stakes in publicly traded companies, including those held indirectly through The Industrial Development Corporation of South Africa Limited (IDC), to bolster the finances of power utility Eskom Holdings SOC Limited. The government said last week in its mid-term budget it would provide Eskom with ZAR 20 billion through the sale of non-strategic assets. Many of those, including a stake in Sasol Ltd. (JSE:SOL) are held via state-owned IDC. Nhlanhla Nene, Finance Minister of South Africa, said that the form in which the shares were owned would make no difference to the government’s ability to raise cash. Nene said, "If it’s held by government, it’s held by government. There are areas where the government shouldn’t be invested. It’s those areas that we are looking at." IDC owns almost 13% of Kumba Iron Ore Ltd. (JSE:KIO) and 7.9% stake in ArcelorMittal South Africa Limited (JSE:ACL). Mandla Mpangase, spokesman of IDC, declined to comment in an e-mailed response to questions from Bloomberg.


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