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Arcelormittal

Family business roundup: JCDecaux and JBS expand operations, LVMH and ArcelorMittal consider sales

October 23, 2012

Sales and acquisitions have been proving popular with family businesses recently, with French outdoor advertiser JCDecaux and Brazilian food processor JBS in a buying mood, while L Capital and ArcelorMittal are considering selling some of their subsidiaries.

Family-controlled JCDecaux has acquired a 25% stake in Russia’s largest billboard operator, Russ Outdoor, which until 2011 was a subsidiary of fellow family-controlled group News Corporation.

Young Aditya Mittal steps closer to the top job at ArcelorMittal

May 25, 2011

Aditya Mittal, son of steel tycoon Lakshmi Mittal, has significantly increased his responsibilities at ArcelorMittal in a move some see as preparation for his eventual succession to leading the company.

In a statement on 24 May, the Luxembourg-based steel group said that Aditya, who currently leads operations in the Americas, will take over running the European unit—the company’s biggest but with the lowest earnings.

Steel tycooon's fortunes start to turn

May 12, 2011

Lakshmi Mittal, chairman and chief executive of steel company ArcelorMittal, will be buoyed by his company’s results, which saw a 67% rise in net profits for the first quarter.

The Luxembourg-based group said on 11 May that its net profits rose to $1.1 billion compared to $640 million for the same period last year. The world’s biggest steelmaker’s sales too rose by around 27% to $22.2 billion.

Eastern Europe: Going east for growth

September 1, 2008

As consumers in Eastern Europe becomes ever more affluent, family businesses around the world are looking to the region for growth rather than cheap land and labour, says Reg Crowder

Family businesses are increasingly turning to Eastern Europe for growth opportunities. But it's a completely different story from what the world saw in the years following the collapse of the Soviet Union.

ArcelorMittal reports 30 deaths at mine

January 15, 2008

An accident that has occurred at a mine belonging to family-owned steel giant ArcelorMittal has claimed 30 lives.

An accident that has occurred at a mine belonging to family-owned steel giant ArcelorMittal has claimed 30 lives. The firm announced in a statement that the accident, which happened last week, took place at its Abaiskaya mine in Kazakhstan.

Lakshmi Mittal (pictured), CEO and president, has expressed his sincerest condolences to the families and loved ones of the victims and has travelled to the country to offer his personal support.

ArcelorMittal enters the Estonian market

November 15, 2007

Family-owned steel giant ArcelorMittal has acquired a 100% stake in Galvex OÜ, the Estonian privately-owned steel galvanising line

Family-owned steel giant ArcelorMittal has acquired a 100% stake in Galvex OÜ, the Estonian privately-owned steel galvanising line located on the Baltic Sea, for an undisclosed sum.

Speaking today, Michel Wurth, member of the group management board of ArcelorMittal, said: "We look forward to bringing our expertise to Galvex OÜ as it joins our Central and Eastern Europe portfolio, which has already proved very successful, accounting for 18% of ArcelorMittal's steel production in 2006."