voda schreef op 23 oktober 2018 20:19:
ArcelorMittal entry set to heat up Indian steel industry
Steel News - Published on Tue, 23 Oct 2018
Live Mint reported that the entry of ArcelorMittal into the Indian market will force existing private sector players to increase efficiency and control costs, analysts say. A third steel producer, after Tata Steel Ltd and JSW Steel Ltd, with both financial heft and expertise, is expected to be good for the domestic market. With Friday’s announcement, the joint venture led by ArcelorMittal is inching towards closing the Essar Steel deal. Mittal is known to have built his career on buying out stressed steel mills across the world in Mexico, Romania, South Africa, and the US and turning them into profitable ventures, usually by ramping up volumes just in time for the upward steel cycle and controlling costs.
Essar steel has a 10 million tonne per annum mill in Hazira, Gujarat. The company is a fully-integrated flat steel manufacturer with ore beneficiation, pellet making, iron making, steel making, and downstream facilities, including cold rolling mill, galvanizing, pre-coated facility, steel processing facility, extra wide plate mill and a pipe mill. In its FY17 annual report, the firm had said that it was the only private steel mill in the country which was allowed to supply steel for warships, submarines, battle tanks and armoured vehicles.
Source : Live Mint