Arcelor

We have come across many news regarding ARCELOR the second largest steel company in the world. The news were like L. N. Mittals attempt to acquire Arcelor through hostile bid or Arcelor’s acquisition of Dofasco Steel. The battle between Mittal and Guy Dolle for Arcelor is going on. So today I am going to give information about Arcelor.
Arcelor was created by a merger and through determination - the merger of Arbed, Aceralia and Usinor, and the determination of these three European groups to mobilise their technical, industrial, and commercial synergies in a joint venture to create a global leader with the ambition of becoming a major player in the steel industry.
Officially launched on February 19, 2001, the merger became effective on February 18, 2002, when the Arcelor share was listed on several stock exchanges. The choice of the name Arcelor was announced on December 12, 2001.
The Arcelor group is developing its activities in 4 core businesses : it is the world's biggest producer of Flat Carbon Steel and Long Carbon Steel, among the leaders in Stainless Steel production, and among the largest firms in Europe for Distribution, Transformation and Trading.
With a total workforce of 104,000, Arcelor is now the number two steel maker in the world and firmly intends to become the benchmark company in the global steel industry. This means behaving in a responsible way in relation to all company stakeholders, including employees, customers, shareholders, local communities, suppliers, sub-contractors and public authorities. From the traditional three-way concept of People-Planet-Profit, Arcelor express determination to cooperate in partnership with each and every stakeholder to meet eight top-priority targets. It is for this reason that it refer to Arcelor's 4 Ps of sustainable development (People, Planet, Profit, Partners).Arcelor has identified eight major priorities for its Sustainable Development policy :
1. Achieve profitable growth by producing and marketing steel products.
2. Commit ourselves to environmental protection and conservation of scarce resources
3. Focus o­n risk management and improved workplace safety, which includes safer products and the health of our employees
4. Promote dialogue with all our stakeholders
5. Develop competencies around shared values of quality and efficiency
6. Innovate in order to add value and support sustainable development
7. Consistently uphold the highest standards in corporate governance
8. Be a model of corporate social responsibility.
Time will say who will win the shareholsders vote to run the company.