Arcelormittal : ArcelorMittal Announces Industrial Plan for Liege

Regulatory News:

ArcelorMittal has yesterday, October 9, unveiled its industrial plan for the Liège region. Michel Wurth, member of ArcelorMittal's Group Management Board, explained to staff representatives the Group's plan for the region with regards to the steelworks' upstream and downstream activities (cold phase and packaging), to R&D and to its contribution to the economic redeployment of the region. Management and staff representatives agreed to pursue dialogue on the various aspects of this plan.

In view of a much stronger demand than anticipated in 2003, ArcelorMittal has decided to rebuild an integrated steel plant in Liège. In this context, it is currently realising the investments required to refire the Seraing blast furnace. Measures will have to be taken to bring the Liège steekworks' production costs to the level of the Group's other European plants. In addition, the continuation of production in Liège is subject to the sustained availability of the necessary CO₂ quota.

Regarding the downstream activities, ArcelorMittal intends to focus Liège on high return and high technology activities, such as Arceo, its prototype plasma vacuum coating line. Management pointed to the very negative evolution of the packaging market and to the need to reduce packaging steel exports and the Liège-based production of this product.

ArcelorMittal announced its intention to further develop its R&D facilities in Liège, so as to give the region a strong innovative impetus fit to attract new industrial activities. The Group has also confirmed its contribution to the economic redeployment of the Liège region on the basis of local partnerships and of the experience acquired over the past four years, e.g. the creation of Magnetto Automotive Belgium and spinoffs. Under an ArcelorMittal mandate, Sodie to date has signed 107 conventions for a total of 1700 new jobs of which 650 have already been created.

Michel Wurth said: ?In view of the new bases for social dialogue, rooted in trust and transparency, it was important for us to discuss the new industrial plan in the framework of constructive consultation between social partners. Our ambition for Liège is to rebuild an integrated steel plant based on high return and high technology products ?.

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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