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Arcelormittal South Africa Disposes An Indirect 25% Interest In Coza Mining Proprietary
ArcelorMittal South Africa HY Headline Loss Of R2.61 Bln Vs Loss Of R638 Mln
Arcelormittal South Africa Sees HY Headline Loss Per Share Between 233 And 245 Cents Per Share
ArcelorMittal South Africa Limited is a steel producer. The Company's segments are Flat steel products, Long steel products, Coke and Chemicals, and Corporate and other. The Flat steel products segment consists of Vanderbijlpark Works and Saldanha Works. The Long steel products segment consists of Newcastle Works, Vereeniging Works and the decommissioned Maputo Works. The Coke and Chemicals segment undertakes the processing and marketing of by-products and the production and marketing of commercial-grade coking coal. The Corporate and other segment consists of sales and marketing functions, procurement and logistics activities, shared services, and the decommissioned Pretoria Works site. Its flat steel products include slabs and heavy plate, as well as hot rolled coil, cold rolled and coated products. Its long steel products include bar, billets, blooms, hot-finished and cold-drawn seamless tubes, window and fencing profiles, and forged products.
Iron & Steel
Paul Mpho Makwana
Non-Executive Independent Chairman of the Board
Hendrik Jacobus Verster
Chief Executive Officer, Executive Director
Avinash Desmond Maharaj
Chief Financial Officer, Executive Director
Chief Operating Officer
Chief Human Resource Officer
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Steel producer ArcelorMittal South Africa Ltd <ACLJ.J> fell deeper into a half-year loss as demand for steel dropped due to the new coronavirus and output declined after operations were shut during a lockdown, the company said on Thursday.
Steel producer ArcelorMittal South Africa Ltd <ACLJ.J> said on Thursday it plans to cut an unspecified number of jobs as part of a restructuring to cut costs and deal with excess capacity due to the coronavirus pandemic.
ArcelorMittal South Africa will pay a fine of 3.64 million rand ($219,658) relating to charges it exceeded hydrogen sulfide minimum emissions standards at its Vanderbijlpark operations in 2016, it said on Wednesday.
ArcelorMittal South Africa has issued force majeure notices to customers and suppliers "where appropriate" as a nationwide three-week lockdown impacts Africa's biggest steel producer.
* JSE: ACL - ACL - IMPACT OF COVID-19 AND 21-DAY LOCKDOWN, AVAILABILITY O ANNUAL FINANCIAL STSTATEMENTS; ANNUAL GENERAL MEETING
ArcelorMittal's South Africa unit said on Wednesday it may close some operations pending a review as it looks to strengthen its long-term sustainability and battle cheap imports, rising costs and a flagging local economy.
The South African arm of steelmaker ArcelorMittal <ACLJ.J> expects to plunge to a first-half loss and cut more than 2,000 jobs as it struggles with cheap imports, rising costs and a flagging local economy, it warned on Wednesday.
ArcelorMittal's South Africa unit said on Wednesday it was considering a large-scale restructuring expected to affect more than 2,000 jobs, after warning its headline earnings for the first half of the year would fall by at least 650 million rand ($45.78 million).
ArcelorMittal <MT.AS>, the world's largest steel producer, posted forecast-beating core profit in the second quarter after keeping costs low, and said an improving global market and trade protection were feeding into an upbeat full-year outlook.
ArcelorMittal's South Africa unit <ACLJ.J> swung back to a modest profit in the first half of the financial year, boosted by higher steel prices and upbeat sale volumes, the firm said on Wednesday.
ArcelorMittal's South Africa unit will sell its 50 percent stake in trading and shipping company MIHBV to its joint venture partner Macsteel Holdings Luxembourg (MacHold) for $220 million, the steel maker said on Monday.
ArcelorMittal South Africa <ACLJ.J>, which has agreed to pay a 1.5 billion rand (£87.2 million) fine for colluding to fix steel prices in five instalments, will be allowed to pay the first of those in three parts, the steelmaker said on Monday.
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