ArcelorMittal holds 2011 Investor Day
Luxembourg and New York, 23 September 2011 (14.00 CET/ 08.00 EST) - ArcelorMittal today holds its annual investor day simultaneously in New York and London. Company presentations include Chairman and CEO Lakshmi Mittal talking about ArcelorMittal's core strengths and opportunities for sustainable growth, and CFO Aditya Mittal providing insight into the Group's strategy for implementing savings and executing growth.
Peter Kukielski, GMB member and CEO of the Group's mining business, also provides a presentation on building a world class mining business with his VP and Chief Commercial Officer, Simon Wandke, speaking about ArcelorMittal's commercial approach to mining. And GMB member and head of strategy, Lou Schorsch, discusses the Group's Value-added leadership approach in R&D with Brian Aranha, Management Committee member and Chief Marketing Officer of FCE, talking about leadership in automotive.
The main focus of today's presentations is to remind investors of the ArcelorMittal's core strengths:
CFO Aditya Mittal also states that he expects to achieve the stated target level for net debt of $22.5bn or less by mid-2012 under various reasonable scenarios and that ArcelorMittal has received written approvals from its banks to extend $4bn of credit facilities from a maturity in 2013 to 2015.
Lakshmi Mittal said in London: "ArcelorMittal possesses core strengths that place the company in a strong position to respond to evolving market conditions. We remain committed to our plans for growth since our core projects are not dependent on strong economic conditions to create value for our shareholders. Our strategy transcends near term market uncertainties."
*EBITDA is defined as operating income plus depreciation, impairment expenses and exceptional items.
Peter Kukielski, GMB member and CEO of the Group's mining business, also provides a presentation on building a world class mining business with his VP and Chief Commercial Officer, Simon Wandke, speaking about ArcelorMittal's commercial approach to mining. And GMB member and head of strategy, Lou Schorsch, discusses the Group's Value-added leadership approach in R&D with Brian Aranha, Management Committee member and Chief Marketing Officer of FCE, talking about leadership in automotive.
The main focus of today's presentations is to remind investors of the ArcelorMittal's core strengths:
- High quality core steel assets
- Industry leading automotive steel franchise
- A world-class and growing mining business
- Strong track record of consistent management gains with a new $1bn Asset Optimisation Plan launched
- And a strong balance sheet
CFO Aditya Mittal also states that he expects to achieve the stated target level for net debt of $22.5bn or less by mid-2012 under various reasonable scenarios and that ArcelorMittal has received written approvals from its banks to extend $4bn of credit facilities from a maturity in 2013 to 2015.
Lakshmi Mittal said in London: "ArcelorMittal possesses core strengths that place the company in a strong position to respond to evolving market conditions. We remain committed to our plans for growth since our core projects are not dependent on strong economic conditions to create value for our shareholders. Our strategy transcends near term market uncertainties."
*EBITDA is defined as operating income plus depreciation, impairment expenses and exceptional items.
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