ArcelorMittal : CEO meets French President and Prime Minister to discuss the company’s investments in France

July 31, 2017 - Lakshmi N. Mittal, chairman and CEO of ArcelorMittal, today met with the French President of the Republic, the Prime Minister and the Minister for Economy and Finance.

These meetings provided an opportunity to exchange views on the current economic and industrial developments and to discuss ArcelorMittal's projects in France and Europe.

Lakshmi N. Mittal presented the recent €96m investment which ArcelorMittal is making in Florange and Dunkerque, France, to anticipate the growth of the automotive steels market and consolidate Florange's position as a centre of excellence for automotive steels.

This new investment comes on top of ArcelorMittal's commitments taken with the French government in 2012. ArcelorMittal has fulfilled its commitments and beyond, with more than €200m in authorised investments since 2012, versus a commitment of €180m and a solution for each job impacted at the time.

The discussion then focused on ArcelorMittal's strategic developments in Europe, especially the proposed acquisition of Italian steelmaker Ilva. Lakshmi N. Mittal highlighted how Ilva will strengthen ArcelorMittal's ability to develop the European market, including favourable perspectives for the company's French sites.

Finally, the talks highlighted the international developments in the steel markets and the need for stronger trade measures to reinforce the sustainability of the European steel industry. The European Union should ensure a level playing field in the context of significant overcapacity in Asia; it should also allow the European steel industry to be on a par with its global competitors.

Lakshmi N. Mittal received favourable feedback on these subjects and more generally, on the leading role ArcelorMittal plays in French industry and in particular the recent developments in Florange. He confirmed the strategic importance of the group's presence in France.

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.

Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.

For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are actively researching and producing steel-based technologies and solutions that make many of the products and components people use in their everyday lives more energy efficient.

We are one of the world's five largest producers of iron ore and metallurgical coal. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.

In 2016, ArcelorMittal had revenues of $56.8 billion and crude steel production of 90.8 million tonnes, while own iron ore production reached 55.2 million tonnes.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/