ArcelorMittal CEO: To Review Non-core Capital Expenditure Plans
23 Settembre 2011 - 4:24PM
Dow Jones News
Steel titan ArcelorMittal (MT) will stick to its core capital
expenditure plan of investing in mining projects, and will review
non-core investments in light of current economic uncertainties
with a view to potentially slowing down some investment, its chief
executive said Friday.
Lakshmi Mittal, chief executive and chairman of the world's
largest steelmaker, said at the company's investor day that the 10%
capital expenditure increase announced in the second quarter would
be reviewed.
ArcelorMittal said in its second quarter results that it had
increased its 2011 capital expenditure plan by 10%, to $5.5
billion, after approving plans to expand its Canadian iron ore
operations and Brazilian steel processing facilities and to invest
in energy efficiency programs.
CEO Mittal said Friday that ArcelorMittal is "reviewing
flexibility" on some non-core projects, and sees "some flexibility
on steel projects."
Chief Financial Officer Aditya Mittal said the company will
continue to calibrate its steel projects to evolving scenarios but
will continue to invest in expanding its mining operations.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
Grafico Azioni Arcelor Mittal (NYSE:MT)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Arcelor Mittal (NYSE:MT)
Storico
Da Lug 2023 a Lug 2024