ArcelorMittal Response to European Commission’s Decision on Pre-Stressed Steel Case
30 Giugno 2010 - 4:50PM
Business Wire
Regulatory News:
ArcelorMittal notes the decision announced today by the European
Commission concerning the investigation into alleged
anti-competitive practices of European manufacturers of
pre-stressed wire and strands steel products, including certain
subsidiary companies of the ArcelorMittal Group. Initial review of
the European Commission’s announcement suggests that the fines
imposed on subsidiary companies of the Group amount to
approximately 315 million euros.
The Commission investigation has been pending since 2002 and the
alleged anticompetitive practices that it has examined date back to
a period over 25 years ago. ArcelorMittal operates a strong
compliance program across all its subsidiaries to ensure that all
business activity remains in accordance with the highest legal and
ethical standards.
When it receives the full Commission decision, the Company will
review the decision in detail and respond within the time limits
provided. All options including appeal will be considered.
ArcelorMittal and its subsidiaries have cooperated fully with
the Commission throughout the investigation.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with
operations in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets,
including automotive, construction, household appliances and
packaging, with leading R&D and technology, as well as sizeable
captive supplies of raw materials and outstanding distribution
networks. With an industrial presence in over 20 countries spanning
four continents, the Company covers all of the key steel markets,
from emerging to mature.
Through its core values of sustainability, quality and
leadership, ArcelorMittal commits to operating in a responsible way
with respect to the health, safety and wellbeing of its employees,
contractors and the communities in which it operates. It is also
committed to the sustainable management of the environment and of
finite resources. ArcelorMittal recognises that it has a
significant responsibility to tackle the global climate change
challenge; it takes a leading role in the industry's efforts to
develop breakthrough steelmaking technologies and is actively
researching and developing steel-based technologies and solutions
that contribute to combat climate change.
In 2009, ArcelorMittal had revenues of $65.1 billion and crude
steel production of 73.2 million tonnes, representing approximately
8 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT),
Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT) and on
the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal visit:
www.arcelormittal.com
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