November 22, 2008

ArcelorMittal sees 153 million steel shipments in 2012

Reuters reported that Arcelor Mittal expects its steel shipments to total 153 million tonnes in 2012 versus 116 million in 2007.

ArcelorMittal in a slides presentation to investors outlined that it expects that its iron ore production to reach 110 million tonnes by 2012 and approximately USD 500 million related to full benefit from merger synergies to impact 2008.

ArcelorMittal reached at the end of the first quarter of 2008 its target of delivering more than USD 1.6 billion of synergies from the merger of former rivals Arcelor and Mittal Steel.