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ArcelorMittal South Africa Ltd (ACLJ.J)

ACLJ.J on Johannesburg Stock Exchange

392.00ZAc
21 Aug 2018
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Latest Key Developments (Source: Significant Developments)

Arcelormittal South Africa Announces Proposed Sale Of Indirect 50 Pct Interest In Macsteel International Holdings BV
Monday, 28 May 2018 

May 28 (Reuters) - ArcelorMittal South Africa Ltd ::PROPOSED SALE OF AN INDIRECT 50% INTEREST IN MACSTEEL INTERNATIONAL HOLDINGS BV AND CAUTIONARY ANNOUNCEMENT.MOU RELATES TO SALE OF ARCELORMITTAL SOUTH AFRICA'S INDIRECT 50% INTEREST IN MIHBV TO A SUBSIDIARY OF MACHOLD.PROPOSED TRANSACTION WILL BE IMPLEMENTED THROUGH A SALE BY ARCELORMITTAL SOUTH AFRICA OF ITS 100% INTEREST IN MSSA TO MACGLOBAL.ENVISAGED THAT ARCELORMITTAL SOUTH AFRICA WILL DISPOSE OF SALE SHARES TO MACGLOBAL IN TERMS OF A SALE OF SHARES AGREEMENT.PURCHASE PRICE FOR SALE SHARES IS AGREED TO BE AN AMOUNT OF USD220 MILLION, TO BE DISCHARGED ON EFFECTIVE DATE UPON DELIVERY OF SALE SHARES BY ARCELORMITTAL SOUTH AFRICA TO MACGLOBAL.PROCEEDS OF SALE WILL BE USED TO STRENGTHEN BALANCE SHEET, TO FUND WORKING CAPITAL REQUIREMENTS AND/OR TO FUND OTHER INVESTMENTS IN OPERATING BUSINESS.MIHBV'S ISSUED SHARE CAPITAL IS PRESENTLY HELD: - 50% BY MSSA INVESTMENTS BVA WHOLLY OWNED SUBSIDIARY OF ARCELORMITTAL SOUTH AFRICA, REGISTERED IN NETHERLANDS.MIHBV'S ISSUED SHARE CAPITAL IS PRESENTLY HELD: - 50% BY MACHOLD'S SUBSIDIARY, MACSTEEL GLOBAL SARL BV ("MACGLOBAL"), REGISTERED IN LUXEMBOURG.  Full Article

Arcelormittal South Africa Says CFO Dean Subramanian To Leave
Tuesday, 8 May 2018 

May 8 (Reuters) - ArcelorMittal South Africa Ltd ::RESIGNATION OF CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR.PROCESS TO FIND SUCCESSOR WILL COMMENCE IMMEDIATELY AND COMPANY WILL CONSIDER APPROPRIATE INTERNAL AND EXTERNAL CANDIDATES.DEAN SUBRAMANIAN TO RESIGN AS CFO AND EXECUTIVE DIRECTOR OF ARCELORMITTAL SOUTH AFRICA WITH EFFECT FROM 31 JULY 2018.  Full Article

Arcelormittal South Africa Says ‍Board Accepts Nomination Of Brian E. Aranha To Replace Henri Blaffart
Tuesday, 20 Mar 2018 

March 20 (Reuters) - Arcelormittal South Africa Ltd ::‍BOARD HAS ACCEPTED ARCELORMITTAL GROUP'S NOMINATION, BEING BRIAN E. ARANHA, TO REPLACE HENRI BLAFFART, AS NON-EXECUTIVE DIRECTOR ON BOARD​.  Full Article

Arcelormilttal South Africa Confirms Payment To Competition Commission
Thursday, 15 Feb 2018 

Feb 15 (Reuters) - Arcelormittal South Africa Ltd ::CONFIRMS PAYMENT TO COMPETITION COMMISSION.REACHED AGREEMENT WITH COMPETITION COMMISSION OF SOUTH AFRICA TO DIVIDE 2017 PAYMENT INTO THREE SEPARATE TRANCHES OF R100 MILLION EACH​.  Full Article

‍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 Aouth Africa says to review staffing levels
Tuesday, 15 Aug 2017 

Aug 15 (Reuters) - ARCELORMITTAL SOUTH AFRICA LTD ::RESTRUCTURING AS A RESULT OF OPERATIONAL REQUIREMENTS.SAYS ALL OPTIONS ARE BEING EXPLORED AND COMPANY HAS NO OPTION BUT TO ALSO REVIEW ITS STAFFING LEVELS.SAYS CO WILL BE COMMENCING WITH CONSULTATION PROCESS BASED ON ITS OPERATIONAL REQUIREMENTS WHICH RELATE TO ITS ECONOMIC AND STRUCTURAL NEEDS.SAYS DIFFICULT TO ESTIMATE NUMBER OF EMPLOYEES WHO MAY EVENTUALLY BE AFFECTED AS A RESULT OF PROPOSED RESTRUCTURING (BUT IT IS ANTICIPATED TO BE MORE THAN 50 EMPLOYEES).  Full Article

BRIEF-ArcelorMittal South Africa says to review staffing levels
Tuesday, 15 Aug 2017 

Corrects company name in headline:RESTRUCTURING AS A RESULT OF OPERATIONAL REQUIREMENTS.SAYS ALL OPTIONS ARE BEING EXPLORED AND COMPANY HAS NO OPTION BUT TO ALSO REVIEW ITS STAFFING LEVELS.SAYS CO WILL BE COMMENCING WITH CONSULTATION PROCESS BASED ON ITS OPERATIONAL REQUIREMENTS WHICH RELATE TO ITS ECONOMIC AND STRUCTURAL NEEDS.SAYS DIFFICULT TO ESTIMATE NUMBER OF EMPLOYEES WHO MAY EVENTUALLY BE AFFECTED AS A RESULT OF PROPOSED RESTRUCTURING (BUT IT IS ANTICIPATED TO BE MORE THAN 50 EMPLOYEES).  Full Article

ArcelorMittal South Africa to sell stake in Macsteel, shares rise

JOHANNESBURG, May 28 ArcelorMittal's South Africa unit will sell its 50 percent stake in trading and shipping company MIHBV to its joint venture partner Macsteel Holdings Luxembourg (MacHold) for $220 million, the steel maker said on Monday.