Luxembourg/Paris, 16 December 2008 – 13:45 CET- The Conseil de la Concurrence (the French Competition Authority) has imposed a euro301.78 million fine on French subsidiaries of ArcelorMittal active in steel distribution.
This is the result of an investigation started in 2004 by the DGCCRF (Direction Générale de la Concurrence, de la Consommation et de la Répression des Fraudes) into historical anticompetitive practices in the steel distribution sector in France, which started in mid 1999.
ArcelorMittal takes matters of this nature extremely seriously and has a rigorous global compliance programme in place to combat anticompetitive practices.
Based on its initial review of the Conseil de la Concurrence's decision, ArcelorMittal expects to make an appeal. At this time the Company has no further comment to make on the situation.
ArcelorMittal is the world's leading steel company, with operations in more than 60 countries.
ArcelorMittal is the leader in all major global steel 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. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge; it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching
and developing steel-based technologies and solutions that contribute to combat climate change.
In 2007, ArcelorMittal had revenues of $105.2 billion and crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of Paris (MT), Amsterdam (MT), New York (MT), Brussels (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal visit: www.arcelormittal.com
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