Ilva bid is part of vision for global consolidation, ArcelorMittal Germany ceo says

ArcelorMittal’s bid to purchase Italian steelmaker Ilva is part of the company’s vision for global consolidation in the steel industry, Frank Schulz, ceo of ArcelorMittal Germany, said this week.

“We believe that there should be steps toward consolidation worldwide and not just in Europe,” Schulz said at the company’s German media event on Tuesday March 21.
ArcelorMittal was itself born out of a major consolidation in the steel industry when Luxembourg-headquartered steel giant Arcelor was acquired by India’s Mittal Steel in 2006. The move was spearheaded by ArcelorMittal chairman and ceo Lakshmi Mittal.
“Mr Mittal furthered consolidation in Europe and across the world. This is the stance that ArcelorMittal pushes,” Schulz said.

ArcelorMittal is bidding for Ilva’s assets as...


Lee Allen

March 22, 2017

18:10 GMT