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Home  /  Forum  /  Arcelor Mittal  /  Sector draad

Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

Laatste koers (eur) Verschil Volume
20,570   -0,110   (-0,53%) Dagrange 20,510 - 20,870 1.994.731   Gem. (3M) 2,8M

Sector draad

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386 Posts
Pagina: «« 1 2 3 4 5 6 ... 20 »» | Laatste | Omlaag ↓
  1. [verwijderd] 1 december 2006 09:00
    Amsterdam (BETTEN BEURSMEDIA NEWS) - ThyssenKrupp, de grootste staalproducent van Duitsland, heeft in het op 30 september afgesloten boekjaar 2005/06 de nettowinst met 58% weten op te voeren tot EUR 1,7 miljard, de hoogste winst sinds Thysssen en Krupp in 1999 fuseerden.

    De winst voor belastingen exclusief bijzondere posten kwam uit op EUR 2,8 miljard tegen EUR 1,7 miljard vorig jaar, ruim boven de doelstelling van EUR 2,5 miljard van het staalconcern. Voor het komende boekjaar denkt ThyssenKrupp een winst in ongeveer dezelfde orde van grootte te kunnen halen.

    De omzet van ThyssenKrupp steeg met 9,8% naar EUR 47,1 miljard, terwijl de orderontvangst toenam met 16,7% tot EUR 47,1 miljard.

    In het laatste kwartaal van het boekjaar wist ThyssenKrupp de winst voor belastingen te vervijfvoudigen tot EUR 619 miljoen en steeg de omzet van EUR 11,0 miljard tot EUR 12,3 miljard.

    Het dividend wordt verhoogd van EUR 0,70 naar EUR 1,00 per aandeel.

    Ziet er dus zeer gezond uit! en ook voor 2007 weer uitstekende resultaten verwacht. Wat zijn analisten toch doemdenkers. Ze gaan wederom de markt missen. Stom stom.

    Coert
  2. [verwijderd] 4 december 2006 09:41
    www.meps.co.uk/allproducts%20steel%20...

    De maandupdate van MEPS. Staalprijzen in November dus behoorlijk stabiel t.o.v. oktober.

    Mittal is nu extreem goedkoop geworden na de daling van de afgelopen dagen. De volatiliteit is enorm met nu vaak een verschil tussen hoogste en laagste punt over de dag van € 1,00-1,50. Het blijft ongelooflijk dat er zo weinig adviezen, TA's etc. vrijkomen van een zo'n groot fonds. Gaat men het dan pas in 2007 op de lijst zetten? Wij in ieder geval niet.

    Groet
    Coert
  5. [verwijderd] 19 december 2006 12:10
    Mittal seeks Point layoffs
    5-week leaves mark third offer since Oct. as steelmaker scales back to fit demand
    By Allison Connolly
    Sun reporter
    Originally published December 19, 2006

    Netherlands-based Mittal Steel Co. NV is offering workers at Sparrows Point another round of five-week layoffs, a sign that the world's largest steelmaker doesn't expect the industrywide slowdown to recover immediately in the new year.

    It is the third such offer since October as Mittal scales back production to stay on par with demand and avoid an inventory glut.

    Last month, crude steel production in North America totaled 10.2 million metric tons, down 2.2 percent compared with November a year ago, according to the International Iron and Steel Institute.

    Elsewhere, Mittal idled a blast furnace at each of two of its bigger plants, Cleveland and East Chicago, Ind.

    Sparrows Point General Manager Thomas Russo said hundreds of the Baltimore County plant's nearly 2,500 workers are being offered the temporary furloughs. About 200 signed up for each of the last two rounds, he said.

    "We want as many people to take the VLOs as possible," Russo said.

    Historically, plant management has worked with the union to offer voluntary, temporary layoffs in an effort to head off mandatory, permanent layoffs.

    "The market's so bad right now, they're doing everything they can to cut costs," said John Cirri, president of United Steelworkers Local 9477, which represents nonmanagement workers at the plant.

    The workers who take leave will receive state unemployment benefits as well as a "sub-pay" negotiated with the company, Cirri said.

    Mittal is using the downtime to perform maintenance in the sinter plant and hot mill, where the steel is made, Russo said.

    Sparrows Point is one of three plants Mittal might have to sell to avoid antitrust issues related to its merger with Luxembourg-based Arcelor SA, a $33.5 billion deal that will make the combined company, Arcelor Mittal, the largest steel producer in the world with annual output of more than 110 million tons.

    The Justice Department has given Mittal until Jan. 28 to sell Canadian subsidiary Dofasco Inc. because of its concern that the merged company would have a monopoly on tin production in the United States. Mittal promised to sell Dofasco to German steelmaker ThyssenKrupp AG if its hostile takeover of Arcelor was successful.

    However, in a bid to thwart Mittal's advances, Arcelor locked up Dofasco in a Dutch trust, which is making its sale difficult. If Mittal is unable to divest Dofasco, the government will force Mittal to sell either Sparrows Point or a sister plant in Weirton, W.Va.

    The heads of both unions have expressed interest in being sold if it means a new buyer will make bigger investments in the plants. Sparrows Point has fared better under Mittal than has Weirton, whose blast furnace was idled and 1,000 workers laid off last year.

    allison.connolly@baltsun.com
  6. [verwijderd] 19 december 2006 12:16
    Production of steel rises
    Pittsburgh Business Times - 4:14 PM EST Monday


    Domestic steelmakers saw their weekly output rise from the previous seven days, according to data released Monday by an industry group.

    Production among domestic steelmakers was about 1.89 million net tons for the week ended Dec. 16. That was up about 1.8 percent from the 1.86 million net tons produced for the week ending Dec. 9, according to the American Iron and Steel Institute.


    Year to date production, as of Dec. 16, was about 101.6 million net tons.

    In the Pittsburgh/Youngstown, Ohio, district, steel companies produced 189,000 net tons for the week ended Dec. 16, down from 192,000 net tons the previous week.

    AISI is a Washington, D.C.-based nonprofit association of North American companies involved in the iron and steel industry.

    The organization's data is based on reports from companies representing about 75 percent of the domestic industry's raw steel capacity.
  7. [verwijderd] 19 december 2006 18:41
    Staat niet in dit stuk maar ze willen de productie in Galati opschroeven met 2 milj.t.p.j.

    Noul CEO al Arcelor Mittal Romania si-a inceput activitatea

    19 Decembrie 2006
    Arcelor Mittal Romania a anuntat astazi numirea noului Chief Executive Officer in persoana lui Augustine Kochuparampil

    Augustine Kochuparampil are o experienta de 31 de ani in industria siderurgica. in 1995-1996, a ocupat pozitia de Chief Financial Officer la Mittal Steel Temirtau imediat dupa ce combinatul a fost preluat de Mittal Steel. Anterior, a lucrat pentru compania siderurgica indiana de stat SAIL timp de 19 ani, ocupand diverse posturi.

    “Voi continua implementarea planului de dezvoltare a companiei, punand accent pe imbunatatirea conditiilor de munca si a normelor de siguranta”, a spus Augustine Kochuparampil. “Eforturile noastre se vor indrepta catre transformarea Arcelor Mittal Romania intr-o companie sigura din punct de vedere al mediului si catre indeplinirea tuturor angajamentelor noastre sociale. tinta companiei este sa crestem increderea si multumirea clientilor nostri”, a declarat Kochuparampil.

    „De asemenea, intentionam sa crestem volumul si calitatea productiei, mizand cu precadere pe potentialul laminorului de produse plate. Combinatul de la Galati va continua sa ia masuri pentru a atinge nivelul de productie din Europa de Vest si pentru a avea costuri competitivite, in concordanta cu standardele globale ale Arcelor Mittal”, a adaugat acesta.

    Ca CFO al Ispat Hamburg si, mai apoi, la Ispat Europe Group SA – responsabil cu operatiunile Mittal Steel in Europa de Vest, cu precadere in Germania, Franta, Italia, Belgia si Marea Britanie - a avut un rol cheie in echipa manageriala care a rentabilizat unitatile Mittal Steel din aceste tari.

    Augustine Kochuparampil a fost, de asemenea, membru al echipei de observatori a Mittal Steel la PHS (Polski Huty Stali), in Polonia, in octombrie 2003. Ulterior, Kochuparampil a facut parte din Consiliul de Administratie al Mittal Steel Poland, fiind responsabil cu activitatile financiare. A fost membru al Consiliului de Administratie al Mittal Steel Ostrava si CFO Mittal Steel Poland. Ca membru in Consiliile de Administratie ale celor doua unitati, a avut o contributie importanta in transformarea acestora in companii siderurgice eficiente.

    Augustine Kochuparampil este absolvent al facultatii de Comert si membru asociat al Institute of Cost and Management Accountants din India. El detine, de asemenea, o diploma in stiinte juridice.

    Noul CEO va lucra cu o echipa de manageri responsabili pentru activitatea Arcelor Mittal Romania. Hans Ludwig Rosenstock, general manager Arcelor Mittal, COO Arcelor Mittal Romania este responsabil cu operatiunile de productie. Arun Annachatre, general manager Arcelor Mittal, CFO Arcelor Mittal Romania este responsabil cu activitatea financiara, iar Rajendra Joshi, general manager Arcelor Mittal, director Arcelor Mittal Romania este responsabil cu achizitiile. Ionel Bors, vicepresedinte Arcelor Mittal este responsabil cu resursele umane in Arcelor Mittal Eastern Europe, inclusiv Arcelor Mittal Romania.

    Actuala structura manageriala a Arcelor Mittal Romania reflecta noua structura internationala a companiei. Combinatul de la Galati va fi transformat intr-un centru de excelenta pentru produse plate si va fi parte a Arcelor Mittal Flat Products Eastern Europe. Schimbarile din management sunt menite sa asigure optimizarea operatiunilor din cadrul tuturor unitatilor de produse plate din Europa.
  8. [verwijderd] 19 december 2006 19:45
    Kleine hint, ons 3e scheepvaartbedrijf heeft daar haar main port.

    Mittal Steel selects Cezanne Connect Succession & Career Poster le Jeudi 30 novembre 2006 @ 19:53:01 par stephan1104 [ Editer | Effacer ]
    contribution de : Anonyme

    Anonyme écrit :



    Mittal Steel selects Cezanne Connect Succession & Career to Support Global Executive Development and Succession Planning London, UK - 20 April 2006

    Mittal Steel, the world's largest and most global steel company, has selected Cezanne Connect Succession & Career to support their worldwide executive development programme.

    Mittal will also implement HRM's integrated modules for training administration and organisation charting. Initially, the solution will be used to track and manage performance, training, career development and succession planning for around 1,000 key people, with plans to extend its use in the future.

    The software will be installed at Mittal's IT facility in Dubai, and accessed by Mittal's corporate HR team based in Rotterdam and London, as well as senior executives across the company.

    Cezanne Connect Succession & Careerwas chosen because of its functional fit, the flexibility of its reporting and its accessibility and ease of use. This was especially important, as the system will be used by the CEO, COO and HR head in each of the 16 countries where Mittal has operations. Alex Gardella, HR Manager at Mittal with responsibility for leadership development, explains: "Our top executives are responsible for building the skills of their teams and for succession planning. Cezanne Connect Succession & Careerwill allow us to share data about key people and positions much more effectively. We'll benefit from a much clearer and consistent view of talent across the business, and better support for decisions at both a country and corporate level." He adds: "Given our plans for the future, it is vital that we develop a pool of motivated managers that will lead the business in future years. Cezanne Connect Succession & Careerallows us to take a much more systematic and organised approach to identifying and developing our people than was possible before."
  9. [verwijderd] 19 december 2006 21:00
    19 December 2006
    Czech Mittal Steel Ostrava's (MSO) rolling mill unit expects toquadruple pre-tax profit in 2006

    Source: Interfax


    See also
    Steel Board

    Steel Catalog

    Valcovny plechu Frydek-Mistek, a rolling mill subsidiary of leading Czech steel company Mittal Steel Ostrava (MSO), expects to post a record pre-tax profit of CZK 400 mln in 2006 – an almost four-fold increase compared to last year – dueto the high profitability of its transformer plates producing division, MSO said Tuesday.

    "This increase is a result of the high profitability of transformer plate [production]," Valcovny plechu Financial Director Marcela Blachova said in a press release. "We need to use the current positive [economic] situation in Valcovny plechu, above all, to secure the ongoing restructuring and streamlining of the company."

    Valcovny plechu plans to earmark all its investment over the coming several years to boost production and quality of electric plates, according to General Director Tomas Mischinger. The company this year started selling electric plates in Turkey and South Korea.

    For 2006, the company's total investment was more than CZK 70 mln. Valcovny plechu plans to put out a total of 137,000 tonnes of all kinds of plates this year, including 15,000 tonnes of transformer plates. MSO is owned by international steel giant Mittal Steel Arcelor.
  10. [verwijderd] 19 december 2006 21:27
    Beste Gripzool, hierbij een aanbeveling voor al je post & search werk, klasse! Ik was er zelf 1,5 week tussen uit naar het Caribisch gebied op kosten van de olie $ ):

    De koers van Mittal doet grosso modo niet veel maar dat zal in 2007 wel gaan veranderen. Ik blijf erbij dat een stijging tot € 40-50 in 2007 bewaarheid zal worden.

    Groet

  11. [verwijderd] 19 december 2006 21:28
    Beste Gripzool, hierbij een aanbeveling voor al je post & search werk, klasse! Ik was er zelf 1,5 week tussen uit naar het Caribisch gebied op kosten van de olie $ ):

    De koers van Mittal doet grosso modo niet veel maar dat zal in 2007 wel gaan veranderen. Ik blijf erbij dat een stijging tot € 40-50 in 2007 bewaarheid zal worden.

    Groet
    Coert

  12. [verwijderd] 19 december 2006 22:24
    Geen twijfels te bespeuren Coert? Ik hoop dat je gelijk krijgt want ik zit zeer overwogen in Mittal! Heb er zelf ook vertrouwen in, het is alleen hopen op zachte landing economie USA.. Want als de beurzen allemaal naar beneden gaan zal mittal ook zeker vallen vrees ik.. Zolang we maar niet onder 27 komen vind ik dat niet erg, dan koop ik bij!

    Hoop dat je vakantie leuk was!

    quote:

    coecoe schreef:

    Beste Gripzool, hierbij een aanbeveling voor al je post & search werk, klasse! Ik was er zelf 1,5 week tussen uit naar het Caribisch gebied op kosten van de olie $ ):

    De koers van Mittal doet grosso modo niet veel maar dat zal in 2007 wel gaan veranderen. Ik blijf erbij dat een stijging tot € 40-50 in 2007 bewaarheid zal worden.

    Groet
    Coert


  14. [verwijderd] 21 december 2006 12:20
    China CISA blocks Arcelor Mittal steel mill buy
    Thu Dec 21, 2006 4:11 PM IST15


    BEIJING (Reuters) - The China Iron and Steel Association is still blocking approval for the world's largest steelmaker, Arcelor Mittal, to buy a stake in China's eighth-largest mill, Laiwu Steel Corp. Ltd., a senior industry official said on Thursday.

    The deal -- which has languished since February without approval by Beijing -- was struck before Mittal, the world's biggest steel firm, agreed to buy Arcelor, then the second-largest.

    Arcelor agreed to buy a 38.41 stake in listed Laiwu, or half of the shares owned by Laiwu's state-owned parent. China's steel industry policy forbids control by a foreign company of any major Chinese mill.

    "It will be very difficult for the deal to get approved," Luo Bingsheng, the association's vice chairman, told Reuters on the sidelines of a steel conference. CISA represents most of the mills in China, which has the world's largest steel industry.

    "I myself am against it and our association has a say in the approval of the deal."

    Arcelor Mittal is still awaiting word on the deal. The approval process is "ongoing", Monique Vanvi, general manager in China for business development and regulatory relations, said earlier this week.

    Laiwu has had no word on the status of the approval, officials said.

    Luo said the approval process had become even more difficult after Mittal took over Arcelor.

    "We do not want a foreign company to control our steel industry, one of the pillar industries for the national economy," he said, reaffirming his previous stance.

    "My generation would not accept that, and neither will the next generation."

    If Beijing approves the Laiwu deal, Arcelor Mittal will own stakes in two of the top 10 Chinese steel firms -- each just short of a controlling share.

    Laiwu and nearby Jinan Iron and Steel Co. Ltd., China's seventh-largest mill, are slated to merge in a plan by the Shandong provincial government to create the nation's second-largest steel maker. Arcelor Mittal would have a share in that company if it purchases a stake in Laiwu.
  15. [verwijderd] 21 december 2006 17:21

    Brazil miner CVRD agrees to 2007 prices with China's Baoshan
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    Last Update: 10:59 AM ET Dec 21, 2006

    (Adds additional details, background, analyst comments)
    By Jeff Fick
    Of DOW JONES NEWSWIRES
    SAO PAULO (MarketWatch) -- Brazilian mining giant Companhia Vale do Rio Doce (RIO), or CVRD, has once again taken the lead in iron ore price talks, closing a key deal Thursday that should leave the company's bottom line well positioned for 2007.
    CVRD, the world's largest producer and exporter of iron ore and iron pellets, said it has agreed to a 9.5% increase in prices for 2007 with Chinese steelmaker Shanghai Baoshan Iron & Steel Co. (600019.SH), or Baosteel.
    The deal is expected to serve as the benchmark for remaining negotiations between global miners and steelmakers, continuing the recent stunning rise in commodity metals. Traditionally, the first price accord reached with a major European or Asian steelmaker serves as the benchmark for the rest of the industry.
    For CVRD, maintaining the upward trend in iron ore prices means a likely continuation to the string of record-setting profit numbers reported by the company in recent quarters.
    "I haven't run all the numbers yet, because this year you also have to include the Inco acquisition this year, but (the increase) will be very positive for CVRD given that 65% of its revenues come from iron ore," said an analyst with a major Sao Paulo-based bank who declined to be identified.
    According to a recent research report from Merrill Lynch, each 5% change in iron ore prices results in a 4% swing to earnings per share. Merrill Lynch estimates that a 10% increase to 2007 iron ore prices would mean free cash flow of $3.5 billion for CVRD next year. In addition, earnings before interest, taxes, depreciation and amortization, or Ebitda, was forecast at $13.78 billion in 2007.
    The 2007 price not only adds to CVRD's bottom line, it also offsets the recent appreciation of the Brazilian real against the U.S. dollar, the Sao Paulo bank analyst said.
    "With this increase, CVRD compensates for the foreign-exchange rate and gains a little," the analyst said.
    CVRD sells iron ore in dollars, but its costs are fixed in reals. As the real strengthens against the dollar, the company loses when it repatriates dollars and its costs rise.
    So far in 2006, the real has gained more than 7% against the dollar. That follows a 14.2% gain in 2005.
    "The prices for 2007 reflect conditions in the global iron ore market and were reached with unprecedented speed, the result of extremely professional negotiations," CVRD said in the statement.
    The 9.5% increase is at the top end of market expectations, with most analysts forecasting a rise of between 5% and 10% in 2007 price talks. Iron ore prices climbed 19% in 2006, after a staggering 72% gain in 2005.
    "The announcement is very positive for CVRD, and it comes in above my expectations, which called for an increase of between 3.5% and 5%," said Cristiane Vianna, an analyst with Rio de Janeiro-based brokerage Agora Senior.
    Investors cheered the news, sending CVRD's locally traded shares 0.3% higher at 53.30 Brazilian reals ($24.68) in early trading on the Brazilian Stock Exchange, or Bovespa, outpacing the broader market as measured by the Ibovespa benchmark stocks index, which was off 0.6% at 43,230 points. In New York, where CVRD lists American depositary receipts, the shares were trading at $29.34, up 0.28%.
    "Another important point is the timing of the announcement of the deal, which was much earlier than previously," said Agora Senior's Vianna. "That shows that China is worried about raw material supplies."
    The agreement with Baosteel also brings to an early close what had been expected to be rancorous talks with Chinese steelmakers. In 2006 talks, Chinese steelmakers were upset by their inability to use their position as the world's largest iron ore consumers to influence negotiations.
    Chinese steelmakers held out until June in 2006 before accepting the 19% increase reached in deals between CVRD and global steelmakers Arcelor (5786.FR), Mittal Steel (MT), South Korean steelmaking giant Pohang Steel Corp. (PKX), or Posco, German steelmaker ThyssenKrupp AG (TKA.XE), Italian steelmaker ILVA SpA and Japanese steelmakers.
    Ahead of the 2007 negotiations, Chinese steelmakers and industry officials had pushed for a drop in iron ore prices from global steelmakers. CVRD and counterparts Australian mining company BHP Billiton (BHP) and Rio Tinto (RTP) control 70% of the seaborne iron ore market.
    However, China's ravenous appetite for steel and low-quality iron ore has driven imports of the key steelmaking ingredient to record levels.
    CVRD said last week that its iron ore exports to China were up 40% year-to-date through November compared with last year. According to the company, Brazil is now the leading iron ore supplier to China, topping Australia and India.
    CVRD expects to close 2006 with iron ore production of 263 million metric tons, climbing to 300 million metric tons in 2007.
    Earlier Thursday, the China Iron & Steel Association said that it expects the country to import 354 million metric tons of iron ore in 2007, up 11% from 2006. China's old mines are unable to keep up with local demand, despite forecasts for production to rise to 772 million metric tons in 2007, up from 644 million tons expected this year.
    However, the poor quality of Chinese ore requires enrichment with Brazilian ore in order to meet steelmaking requirements. Chinese ore contains an iron content of between 18% and 20%, compared with Brazilian ore's iron content of more than 60%.
    (Rogerio Jelmayer in Sao Paulo contributed to this story)
  16. [verwijderd] 21 december 2006 17:34
    Bez dogovora o statusu 174 radnika Mittal Steel Zenica

    Nakon jučerašnjih pregovora s Wilijem Smithom, direktorom za ljudske resurse Mittal Steel Europe, predsjednik Sindikata Mittal Steel Zenica Islam Imamović izjavio je da će status 174 radnika s kojim uprava početkom godine nije potpisala ugovore o radu, biti poznat u narednih nekoliko dana.
    Predstavnici kompanije ponudili su Sindikatu da se status čekanja posla tokom kojeg ovi radnici primaju mjesečnu naknadu od 180 KM produži do sredine 2007. godine, tačnije za još šest mjeseci, uz uvjet da se nakon isteka tih šest mjeseci, oko 90 radnika s NK i PK spremom proglasi tehnološkim viškom, a za 80 radnika koji imaju KV i SS spremu ostavljena je mogućnost angažmana u pripremi i pokretanju integralne proizvodnje.

    Također je ponuđena i mogućnost sporazumnog prekida radnog odnosa uz isplatu stimulativnih otpremnina.

    "Ovakav prijedlog radnici neće prihvatiti. Mi se od sinoć nalazimo u prostorijama Sindikata, svoj odgovor poslali smo predstavnicima Mittala i čekamo njihovu reakciju. Tražimo da se naš status riješi ili ćemo poduzeti radikalne mjere, blokirati ulaze u kompaniju ili magistralni put M-17", izjavila je Indira Dizdarević, predstavnica radnika s kojim uprava nije potpisala ugovore o radu.

    Za nove pregovore Wili Smith, direktor za ljudske resurse pri Mittal Steel Europe, ovlastio je menadžment Mittal Steel Zenica.

    FENA
    21/12/2006 11:19
  18. [verwijderd] 22 december 2006 15:18

    Rio Tinto reaches pricing agreement with Baosteel
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    Last Update: 9:01 AM ET Dec 22, 2006

    Edited Press Release
    LONDON (MarketWatch) -- Rio Tinto PLC announced that Hamersley Iron has Friday reached agreement with China's Baosteel on the price for Hamersley iron ore deliveries for the contract year commencing Apr. 1, 2007.
    Under this agreement, the price of Hamersley lump and fine ores will increase by 9.5%.
    The new prices will be:- Hamersley Fines $ 0.8042 per dry metric tonne unit Hamersley Lump $ 1.0264 per dry metric tonne unit
    Sam Walsh, Chief Executive of Rio Tinto's Iron Ore Group, said, "As a major supplier to China for over thirty years, Hamersley Iron is pleased to reach this agreement Friday with Baosteel, China's largest steelmaker. The agreement reflects the continuing strong demand in the market for Hamersley's products."
  19. [verwijderd] 22 december 2006 15:19
    BUSINESS NEWS
    Mittal hikes prices on 'high demand'

    Fri, 22 Dec 2006

    High demand and supply shortages in plate products have "forced" Mittal Steel South Africa to hike prices for the products by seven percent, the group said on Friday.

    Galvanised products — which are dipped in liquid zinc — will go up by nine percent, as the price of zinc has soared in the past 18 months. Colour coated galvanised products will increase by five percent.

    The group added it will also hike its prices for structural sections and bars, as well as specialised sections, by four percent and six percent respectively.

    However, it will decrease the price on its high volume products, which include hot and cold rolled coil, by four percent, on the back of falling international prices.

    "We have decreased the price of our high volume products as a result of falling international prices," said the company's chief executive Rick Reato in a statement on Friday.

    "However, in certain product lines — like zinc coated products — we have been forced to increase prices because of the rising international price of the basic raw materials."

    I-Net Bridge
  20. [verwijderd] 22 december 2006 15:20
    Rashnikov teases metal market with Mittal leak
    By: John Helmer
    Posted: '21-DEC-06 15:39' GMT © Mineweb 1997-2006

    MOSCOW (Mineweb.com) --A press leak in Moscow this week, suggesting that Lakshmi Mittal, world's largest steelmaker, had recently approached Victor Rashnikov, controlling shareholder of Magnitogorsk Metallurgical Combine (MMK), to offer takeover terms, has been slipped into the international metal markets through Reuters and other business media.

    But it is nothing more than a teaser for MMK's proposed initial public offering (IPO) next year, industry sources say. It has no chance of acceptance by either MMK or Russian government industry regulators, they add. The news added 6% to MMK's share price in a week, and more than a hundred million dollars to the value of Rashnikov's stake in the steelmaker, Russia's largest.

    A newspaper report by Vedomosti claimed that Lakshmi Mittal himself had been invited by Rashnikov to Magnitogorsk, in central Siberia last month. When he was unable to go, he sent his son Aditya in his place.

    Indian industry sources have told Mineweb the Mittal group had helped Rashnikov last year, when Russia's iron-ore magnate Alisher Usmanov attempted to impose an iron-ore delivery blockade on MMK.

    The Mittal steel group, which controls iron-ore supplies in Kazakhstan and in the Ukraine, sent Usmanov a warning that if he tried to monopolize the independent iron-ore market in Russia, he would trigger competition from across the border. Usmanov retreated, and MMK, the most vulnerable of Russia's steelmills to disuption of its iron-ore and coking coal supplies, quickly restored the flow.

    However, the sources add, the Kremlin has rebuffed several overtures Mittal has personally made to meet with President Vladimir Putin or his advisors to discuss buying Russian steel assets. Such a deal has been ruled out, both Indian and Russian sources believe. At the same time, Arcelor-Mittal retains ties to Severstal (in a joint venture to produce coated steel). Mittal personally knocked Severstal's owner, Alexei Mordashov, out of the bidding for Arcelor during a highly publicized bidding match between May and July of this year.

    Russia's investment banks and brokerages have largely ignored Mittal's luncheon pitch to Rashnikov. "We believe that an IPO is a better choice for shareholders than the sale of a controlling stake to another strategic investor," reported steel analyst for MDM Bank, Michael Kavanagh. He added that the negotiations with Mittal "are unlikely to progress any further."

    MMK's spokesman Elena Azovtseva is not commenting on the press report. Early in the week, another press leak reported that Rashnikov has agreed with the MMK board last week to launch an IPO for MMK in London by May of next year. In thin Moscow market trading, the MMK share price has been gaining steadily, and is now trading at a year high of 84 US cents. This is up 29% in the past three months, and up 69% in the year to date. No Russian steel company has done so well. Market capitalization is currently at $9 billion.

    Rashnikov controls more than 90% of MMK's shares, and is considering a sale of about 12% of his stock for a target raising of about $1 billion. The banks managing the placement are Renaissance Capital, which has confirmed its participation; Morgan Stanley; and ABN Amro.

    Morgan Stanley had been engaged by rival Russian steelmaker Evraz for its London listing in July 2005. However, serious differences arose between the bankers and the steel company, and Morgan Stanley was replaced for subsequent Evraz issues. Renaissance Capital was active in the Evraz listing, and joined the MMK bankers' syndicate after Deutsche Bank withdrew. ABN Amro also appears to have joined the MMK syndicate; it has been rumoured to have been advising Severstal on its share pricing strategy this year.

    Rashnikov began planning the IPO more than a year ago. The launch was first delayed by concerns expressed by the bankers at the complex shareholding arrangements which keep the steelmaker's assets under Rashnikov's control. In July, a Moscow share listing was cancelled when the share price did not reach Rashnikov's value target.

    In other respects, it has been a frustrating year for Rashnikov, whose bid to acquire his first foreign asset, Pakistan Steel Mills, was overturned by a court in Islamabad. A fatal fire in cold-rolling shop no.5 last month cut cold-rolled coil output.

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