Arcelormittal : ArcelorMittal Expands Its Presence in China

Regulatory News:

ArcelorMittal today announces the acquisition of a 90% stake in Rongcheng Chengshan Steelcord, the Chinese privately owned steelcord wire drawing company based in Shandong province. The acquisition is being made for the sum of USD 26.6m.

Speaking today, Lakshmi Mittal, President and Chief Executive of ArcelorMittal said:

?This acquisition is an important step for us in expanding in a major market. We have already shown through our joint ventures in China the value and skills we can bring the Chinese steel industry and we look forward to bringing our expertise to Rongcheng Chengshan Steelcord. As well as showing our commitment to the broader Chinese steel market, this acquisition also underlines our commitment to the wire business specifically and recognises China's leading position in this sector.'

Rongcheng Chengshan Steelcord specialises in steelcord wire and bead wire (used for tire reinforcement). The company forecasts a turnover of RMB 536m (USD 71m) for 2007. China is the largest steelcord wire market in the world with very close proximity of the steelcord producers to the tire manufacturers. China is also the leading tire manufacturing base in the world.

ArcelorMittal's consolidated sales in wire solutions represented USD 2,6bn worldwide in 2006.

About ArcelorMittal

ArcelorMittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.

ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.

ArcelorMittal key pro forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output.

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

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