Arcelormittal Executive Summary

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ArcelorMittal is a steel and mining company with a global presence in more than 60 countries. It is a leader in major global carbon steel markets such as automotive, construction, and household appliances to name a few. It is the combination of Arcelor and Mittal Steel, the latter being the origin of the present company.
Mr. Lakshmi N. Mittal, Chairman and CEO of ArcelorMittal, started in the steel industry by building his first steel plant in Indonesia in 1976. This would form the beginning of Ispat International, while also establishing its parent holding company, LNM Group. In the 1980’s, still a minor player in the steel industry, Mittal looked to a new potential raw material source, DRI (Direct-reduced Iron). This had immense
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Its available cash is used for future acquisitions and strategic movements. Total assets for the year ending 2010 were 130,904 compared to 127,697 in 2009.
As of December 31, 2010 Total current liabilities were 30,723 compared to 23,491 in 2009. Part of ArcelorMittal’s current liability stems from a 3.2 billion term loan repayment due in 2011 from its credit facility. It has begun to make a goal of reducing debt by delaying near term payments on debt through refinancing and by modifying the terms of its repayment contracts. Accounts payable is the largest current liability at 13,256 for the year ending 2010 compared to 10,676 in 2009. The increase is due to increase in transactions with related parties that include associates and joint ventures with the company. Its second largest current liability is accrued expenses which were 6,900 for the year ending 2010 compared to 6,922 in 2009.
As of December 31, 2010 Total liabilities were 64,804 compared to 62,260 in 2009. Bond issuances increased total debt and net total debt increased due to increased working capital from higher levels of steel production.
Revenues for the year ending 2010 were 78,025 compared to 61,021 in 2009. Sales in 2010 represented an increase of 28% over 2009. This was due to a rise in steel shipments as well as a smaller rise in steel prices. Although 2010 did see an improvement in sales, it still
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