ArcelorMittal will start 2021 in strong positions

ArcelorMittal, the largest steel company in the world, despite the unprecedented challenges of 2020, will start 2021 in strong positions, according to a joint statement by the Chairman and CEO of ArcelorMittal Lakshmi Mittal, as well as the President and Chief Financial Officer of the company Aditya Mittal to the company’s employees on the occasion of the New Year and Christmas, published in the corporate newspaper of PJSC “ArcelorMittal Kryvyi Rih” “Metallurg”.

At the same time, it is noted that the company has carried out significant work to minimize the impact of COVID-2019: this concerns, firstly, the adaptation of our operations to protect people, and secondly, the implementation of measures to maintain the level of fixed costs per ton of products, even with significant production cuts.

“We have not only dealt with the crisis well, but we have also taken several important steps towards transformation for the future. We have previously completed the sale of ArcelorMittal USA to Cleveland Cliffs. We have also entered into a partnership agreement with government agencies Italy for the management of Ilva (a steel company – IF ). These two operations reduce our total output, but at the same time they allow us to focus investments in our structurally more attractive assets, “- explained in a message from management ArcelorMittal.

In addition, it indicates the achievement of the target for net debt, which has been about the main activity of the company. This means that the company now has a strong balance sheet that will provide sufficient support in all aspects of the steel cycle.

ArcelorMittal executives have pledged to remain the world’s leading steel company for the next decade and beyond.

“Over the course of the year, it became clear that we needed to lead the decarbonization of the metals industry. We have now set an ambitious, but necessary, goal of zero carbon emissions by 2050. Therefore, continuing our work on developing and testing technologies and promoting political support will be a priority for the group. Reducing the company’s carbon footprint to near zero is one of the biggest challenges we have faced, but it is also our chance as steel has the lowest carbon footprint and is the most recyclable material, 100% at the same time without loss of quality. That is, in 2021 we will be how to work! “, – stated in the statement.

And it is also expressed confidence that the company will continue to make progress in the direction of improving safety performance, implementing its strategy, developing decarbonization plans or managing stakeholder relations parties.

“We are starting the new year again with tension (…) and we hope to continue to work together to create smart steels for a better world in 2021,” – summarized in an address to the company’s employees.

In turn, AMKR CEO Mauro Longobardo noted in his congratulations that the company is confidently moving towards ecological steel production, introducing new technologies, updating equipment, investing in new industrial and social facilities.

“ArcelorMittal Kryvyi Rih “is the largest producer of rolled steel in Ukraine. It specializes in the production of long products, in particular, rebar and wire rod.

ArcelorMittal owns the largest mining and metallurgical plant “ArcelorMittal Kryvyi Rih” in Ukraine and a number of small companies, in particular, PJSC “ArcelorMittal Berislav”.

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