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ArcelorMittal South Africa Ltd (ACLJ.J)

ACLJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

‍ArcelorMittal South Africa Confirms Payment To Competition Commission​
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Arcelormittal South Africa Ltd ::‍ARCELORMITTAL SOUTH AFRICA CONFIRMS PAYMENT TO COMPETITION COMMISSION​.REACHED AGREEMENT WITH COMMISSION, SUBJECT TO APPROVAL, TO DIVIDE 2017 PAYMENT INTO THREE SEPARATE TRANCHES OF R100 MILLION EACH​.‍REVISED PAYMENT TERMS APPLY ONLY TO FIRST YEAR OF AGREEMENT AND NEXT TWO INSTALMENTS WILL BE MADE ON 1 APRIL 2018 AND 1 JULY 2018​.SET TO PAY AMOUNT OF R1.5 BILLION OVER FIVE YEARS, IN INSTALMENTS OF NO LESS THAN R300 MILLION/ ANNUM. FIRST INSTALMENT WAS DUE ON NOV 16.  Full Article

ArcelorMittal South Africa Appoints Hendrik Verster As CEO
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Arcelormittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - ‍APPOINTMENT OF HENDRIK JACOBUS "KOBUS" VERSTER AS CEO AND EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA, HAS BEEN APPROVED.- VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018.‍VERSTER WILL JOIN ARCELORMITTAL SOUTH AFRICA ON 2 JANUARY 2018 AS CEO DESIGNATE.‍VERSTER WILL OFFICIALLY ASSUME POSITION OF CEO AND EXECUTIVE DIRECTOR WITH EFFECT FROM 1 FEBRUARY 2018​.  Full Article

Arcelormittal South Africa says Q3 steel sales of ‍1.07 mln tonnes
Friday, 10 Nov 2017 

Nov 10 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::Q3 LIQUID STEEL PRODUCTION ‍1,240​,000 TONNES VERSUS 1,115,000 TONNES IN Q3 2016.Q3 STEEL SALES ‍1,065​,000 TONNES VERSUS 950,000 TONNES IN Q3 2016.Q3 EXPORT STEEL SALES 202,000 TONNES VERSUS 136,000 TONNES IN Q3 2016.Q3 COMMERCIAL COKE PRODUCED ‍47​,000 TONNES VERSUS 44,000 TONNES IN Q3 2016 .Q3 COMMERCIAL COKE SALES ‍49​,000 TONNES VERSUS 46,000 TONNES IN Q3 2016 .‍LOCAL SALES WILL CONTINUE TO BE UNDER PRESSURE DUE TO TOUGH TRADING CONDITIONS AS A RESULT OF LOWER STEEL DEMAND IN Q4​.SAYS ‍EXPORT SALES WILL ALSO BE HIGHER DUE TO BETTER INTERNATIONAL PRICES IN Q4​.‍VOLATILITY IN RAND/US DOLLAR EXCHANGE RATE WILL CONTINUE TO HAVE AN IMPACT ON CO'S FINANCIAL RESULTS IN Q4​.  Full Article

Arcelormittal South Africa says Wim De Klerk to retire as CEO and executive director​
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::‍WIM DE KLERK HAS INFORMED ARCELORMITTAL SOUTH AFRICA BOARD OF HIS WISH TO RETIRE AS CEO AND AN EXECUTIVE DIRECTOR​.‍WIM DE KLERK HAS INFORMED BOARD OF HIS WISH TO RETIRE AS CHIEF EXECUTIVE OFFICER (CEO) AND AN EXECUTIVE DIRECTOR.​.‍BOARD WILL IMMEDIATELY IMPLEMENT A PROCESS TO IDENTIFY A SUITABLE SUCCESSOR​.ARCELORMITTAL SOUTH AFRICA - ‍WIM DE KLERK WILL STEP DOWN AS CEO, EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA WITH EFFECT FROM 31 JANUARY 2018​.  Full Article

ArcelorMittal South Africa FY headline loss narrows to 244cents/shr
Friday, 10 Feb 2017 

ArcelorMittal South Africa Limited : . Loss from operations decreased from r4 736 million to r1 092 million; . Headline loss reduced from r5 370 million to r2 589 million; . Rights issue decreased net debt and resulted in savings on finance costs . Low gdp growth and lack of infrastructure spend resulted in domestic demand at a seven-year low . Domestic and export markets in which company operates continued to be extremely constrained with minimal growth as a result of import substitution and minimal local investment and infrastructural spend . Encouragingly, post year-end authorities approved designation of south african steel for use in state infrastructural projects. . Global steel markets remained depressed due to a prolonged lack of demand. Many emerging markets experienced flat or negative growth in steel demand. . From china, hot rolled coil (hrc) and other steel products are exported into world markets, especially continent of africa in large quantities. . In year, african markets, normally major consumers of arcelormittal south africa exports, continued to import subsidised chinese steel. . Revenue increased by 5 pct to r32 737 million mainly due to an 8 pct increase in average net realised steel prices, from r6 727 per tonne to r7 282 per tonne partly offset by lower sales volumes . In line with expectations, revenue from coke and chemicals business decreased by 24 pct to r1 374 million.  Full Article

ArcelorMittal S.Africa announces terms of proposed BBBEE deal
Wednesday, 28 Sep 2016 

ArcelorMittal South Africa Ltd : Withdrawal of cautionary and terms of new B-BBEE transaction . All 10 applications for import duties on locally produced steel products have been gazetted at bound rate of 10 pct . Legacy issues regarding competition matters have been settled with Competition Commission, subject to approval of Competition Tribunal . AMSA's transaction costs for B-BBEE transaction of 28.7 mln rand, Likamva transaction costs it has settled, will be expensed . One off, non-cash cost of issue of A1 shares to B-BBEE Co, as at Sept. 26 2016 is 798 mln rand . Board recommends that AMSA shareholders vote in favour of resolutions required to implement B-BBEE transaction .AMSA has received 69.2 pct irrevocable undertaking from Arcelormittal Holdings AG to vote in favour of resolutions.  Full Article

SA's competition watchdog says ArcelorMittal to pay 1.5 bln rand fine
Monday, 22 Aug 2016 

S.Africa's Competition Commission: ArcelorMittal to pay R1.5 billion fine for its involvement in cartels . Agreed to remedies relating to complaints against its pricing conduct without admitting that its pricing conduct constituted a contravention of competition act . AMSA (ArcelorMittal South Africa) admits having been involved in long steel and scrap metal cartels, and agrees to pay an administrative penalty of R1.5 billion . AMSA has committed to a R4.6 capital expenditure over next five years . AMSA has undertaken that for a period of five years it will limit its EBIT margin to a cap of 10 pct for flat steel products sold in South Africa . Commission has, in turn, agreed that the settlement will cover all pending cases against AMSA including those still under investigation Further company coverage: [ACLJ.J] (Bengaluru Newsroom: +91 806 749 1136).  Full Article

S. Africa's Competition Commission says Arcelormittal to pay r1.5 billion fine
Monday, 22 Aug 2016 

: Arcelormittal to pay r1.5 billion fine for its involvement in cartels Further company coverage: [ACLJ.J] ((Bengaluru Newsroom +918067491136;)).  Full Article

ArcelorMittal South Africa says settles all outstanding matters with Competition Commision
Monday, 22 Aug 2016 

ArcelorMittal South Africa Ltd :All outstanding matters have now been addressed and a settlement has been reached, finalising all pending matters against company.  Full Article

ArcelorMittal SA posts smaller six-month headline loss
Friday, 29 Jul 2016 

ArcelorMittal South Africa Ltd : Reviewed condensed consolidated financial statements for the six months ended June 30 2016 . Six-month revenue increased 3 pct to 17.006 bln rand following a 10 pct increase in sales volumes . Liquid steel production for first six months of year was 2.5 mln tonnes, a decrease of 43,000 tonnes compared to first six months of 2015 . Six-month total sales volumes were up by 10 pct (210,000 tonnes) against comparative period in 2015 . Generated from operations was 592 mln rand, compared to utilisation of 727 million mln rand in corresponding period last year . H1 headline loss was 458 mln rand, compared to a headline loss of 109 mln rand in first six months of 2015 . No dividends were declared for six months ended June 30, 2016 . Although average net realisable steel price is expected to improve, costs are also expected to increase in H2 2016 .Shipments are expected to remain consistent with H1 2016.  Full Article

ArcelorMittal South Africa loss deepens, expects Africa market growth

JOHANNESBURG, July 27 ArcelorMittal South Africa reported a deeper first-half loss on Thursday but forecast growth in steel demand in Africa in the second half.