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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 Posts HY Headline Loss Of 638 Mln Rand
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - Arcelormittal South Africa Ltd ::CONSOLIDATED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2019.HY HEADLINE LOSS OF R638 MILLION COMPARED TO HEADLINE EARNINGS OF R54 MILLION FOR SAME PERIOD LAST YEAR.INTERNATIONAL STEEL PRICES ARE EXPECTED TO IMPROVE WHILE RAW MATERIAL BASKET IS LIKELY TO BE LOWER.SALE OF BUSINESS AGREEMENT CONCLUDED IN RELATION TO ACQUISITION BY ARCELORMITTAL SOUTH AFRICA OF HIGHVELD STRUCTURAL MILL.HY REVENUE 21.74 BILLION RAND VERSUS 22.87 BILLION RAND.  Full Article

Arcelormittal Entered Into Sale Of Business Agreement With HSM And Highveld
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - Arcelormittal South Africa Ltd ::JSE: ACL - ACL - TERMS ANNOUNCEMENT : PROPOSED ACQUISITION.ARCELORMITTAL SOUTH AFRICA LTD - ENTERED INTO A SALE OF BUSINESS AGREEMENT WITH HSM AND HIGHVELD.ARCELORMITTAL SOUTH AFRICA - SALE IN RELATION TO ACQUISITION OF ASSETS AND LIABILITIES OF STRUCTURAL STEEL AND RAIL MANUFACTURING BUSINESS.ARCELORMITTAL SOUTH AFRICA LTD - PURCHASE PRICE PAYABLE BY ARCELORMITTAL SHALL BE AN AMOUNT EQUAL TO ZAR150 MILLION TO BE PAID ON EFFECTIVE DATE IN CASH.ARCELORMITTAL SOUTH AFRICA LTD - PURCHASE PRICE WILL BE INCREASED BY AN AMOUNT EQUAL TO ZAR150 MILLION, SUBJECT TO OCCURRENCE OF A PAYMENT TRIGGER EVENT.ARCELORMITTAL SOUTH AFRICA LTD - WILL MAKE OFFERS OF EMPLOYMENT ON A FIXED BASIS TO ALL CURRENT EMPLOYEES OF BUSINESS.  Full Article

ArcelorMittal South Africa Says Excess Of 2,000 Positions May Be Affected By Restructuring
Wednesday, 10 Jul 2019 

July 10 (Reuters) - ArcelorMittal South Africa Ltd ::TRADING STATEMENT AND BUSINESS REORGANISATION.SEES HY HEADLINE EARNINGS TO DECREASE BY AT LEAST R650 MILLION TO HEADLINE LOSS, RESULTING IN FALL IN HEPS BY AT LEAST 59 CENTS.SEES HY LOSS TO IMPROVE BY AT LEAST R700 MILLION (44%), RESULTING IN AN IMPROVEMENT OF LOSS PER SHARE BY AT LEAST 64 CENTS.A LARGE-SCALE RESTRUCTURING IS CONTEMPLATED, AND IT IS ANTICIPATED THAT IN EXCESS OF 2 000 POSITIONS MAY BE AFFECTED.FINAL OUT-COME AND NUMBER OF POSITIONS AFFECTED IS SUBJECT TO A FORMAL CONSULTATION PROCESS..MORE SIGNIFICANT MEASURES HAVE BECOME NECESSARY, INCLUDING REVIEW OF STAFFING LEVELS, TOGETHER WITH OTHER INTERVENTION.PREVIOUS COST-SAVING INITIATIVES WILL NOT BE SUFFICIENT.  Full Article

Arcelormittal South Africa Says It May Face Criminal Proceedings Related To Vanderbijlpark Ops​
Monday, 3 Jun 2019 

June 3 (Reuters) - ArcelorMittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - HAD BEEN INFORMED THAT THERE WAS INTENTION TO INSTITUTE CRIMINAL PROCEEDINGS AGAINST IT.ARCELORMITTAL SA - CRIMINAL PROCEEDINGS ON ACCOUNT OF 3 ALLEGED TRANSGRESSIONS OF ITS ATMOSPHERIC EMISSIONS LICENCE (AEL) AT VANDERBIJLPARK OPERATIONS.ARCELORMITTAL SOUTH AFRICA - GOT LEGAL ADVICE FROM SENIOR COUNSEL ON ENVIRONMENTAL MATTERS, TO ADHERE TO RELEVANT LEGAL PROCESSES THAT WILL FOLLOW.ARCELORMITTAL SOUTH AFRICA - SUMMONS INSTITUTING CRIMINAL PROCEEDINGS IN REGARD TO ENVIRONMENTAL MATTERS WAS SERVED ON COMPANY ON 30 MAY 2019..ARCELORMITTAL SOUTH AFRICA - THERE ARE THREE CHARGES, TWO OF WHICH RELATE TO ALLEGED CONDUCT OF CERTAIN ACTIVITIES WITHOUT AN AEL.ARCELORMITTAL SOUTH AFRICA - THERE ARE 3 CHARGES, WITH ONE RELATING TO ALLEGED FAILURE TO ADHERE TO AEL BY EXCEEDING SOME MINIMUM EMISSION STANDARDS.ARCELORMITTAL SOUTH AFRICA - IF THERE IS ADVERSE FINDING REGARDING ALLEGED TRANSGRESSIONS, MAXIMUM FINE PAYABLE IS UP TO R15M IN TERMS OF LEGISLATION.  Full Article

Arcelormittal South Africa Qtrly Total Steel Sales 1.05 Mln TONS Vs 1.17 Mln Tons
Thursday, 9 May 2019 

May 9 (Reuters) - ArcelorMittal South Africa Ltd ::ARCELORMITTAL SOUTH AFRICA - QTRLY LIQUID STEEL PRODUCTION 9 000 TONNES (0.7%) HIGHER.ARCELORMITTAL SOUTH AFRICA LTD - QTRLY DOMESTIC SALES VOLUMES DECREASED BY 5%.ARCELORMITTAL SOUTH AFRICA LTD - VOLATILITY IN RAND/US DOLLAR EXCHANGE RATE CONTINUES TO IMPACT BUSINESS.ARCELORMITTAL SOUTH AFRICA - QTRLY TOTAL STEEL SALES 1 049,000 TONS VERSUS 1 167,000 TONS.ARCELORMITTAL SOUTH AFRICA LTD - DOMESTIC DEMAND REMAINS WEAK.  Full Article

Arcelormittal South Africa Finalises Sale Of Indirect 50 Pct Interest In Macsteel International
Monday, 5 Nov 2018 

Nov 5 (Reuters) - ArcelorMittal South Africa Ltd ::EXECUTED FINAL DOCUMENTS TO FINALISE SALE WHICH INCLUDES PAYMENT OF PURCHASE PRICE OF $220 MILLION.FINALISATION OF SALE OF AN INDIRECT 50% INTEREST IN MACSTEEL INTERNATIONAL HOLDINGS BV.  Full Article

Arcelormittal South Africa Names Avinash Desmond Maharaj As CFO
Friday, 21 Sep 2018 

Sept 21 (Reuters) - ArcelorMittal South Africa Ltd ::APPOINTMENT OF AVINASH DESMOND MAHARAJ (DESMOND) AS CHIEF FINANCIAL OFFICER (CFO).APPOINTS AVINASH DESMOND MAHARAJ (DESMOND) AS EXECUTIVE DIRECTOR OF BOARD WITH EFFECT FROM 1 OCTOBER.  Full Article

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

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ArcelorMittal cuts steel demand forecast, targets asset sales

BRUSSELS The world's biggest steelmaker ArcelorMittal cut its forecast for global steel demand, with a sharper reduction now envisaged in Europe due to a lean automotive market.