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The origins of the company now known as ArcelorMittal date back to 1976. However, it was not until the USD 33bn takeover of European steel maker Arcelor by Indian-owned multinational steel maker Mittal Steel in 2006 that the company took its name. The resulting firm would become one of the largest companies of its type in the world, producing around 10% of all global steel.
By 2007, ArcelorMittal’s revenues hit USD 105bn and, just a year later, the company employed over 320,000 people in 60 countries. It is now the second-largest steel producer in the world and the largest producer in Europe and the Americas, with an annual production of over 88 million metric tonnes. The company ranks 197th in the Fortune Global 500, has a market cap of USD 25bn and owns total assets worth more than USD 100bn.
ArcelorMittal has kept its place among the industry leaders by promoting steel as a vital component of the future circular economy. ArcelorMittal strives to build a better world with smarter steels. Its steels are cleaner, stronger and reusable, produced using innovative processes to use less energy and emit significantly less carbon.
The company employs over 1,500 researchers across 11 research centres to achieve this aim, with over 100 R&D programmes currently in operation. As a result, ArcelorMittal has trademarked 200-plus products across over 700 active patent families. Just last year, the company launched 41 new products and solutions.
Its financial returns place it among the world’s largest companies, with revenues for 2022 coming It at just under USD 80bn.