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GM owes $9.6M to ArcelorMittal
US auto giant, bankrupt General Motors has to pay $9.55 million (almost Rs 45 crore) in trade debt to the steel maker ArcelorMittal. The US auto making giant, which filed for bankruptcy protection under Chapter 11 on Monday, owes as much as a staggering $172.81 billion in total debts to its 50 largest credit... »
ArcelorMittal lays off 1,000 jobs in Poland
The world’s largest steel maker, the ArcelorMittal Group has decided to cut 1,000 production employees from its plants in Poland, ones that have the lowest production costs among all its group plants. Despite claims in their policy the company deviated from their promise of a cut off. Although they claim that the cut will... »
ArcelorMittal Announces Output Cut, Lowers Forecast
ArcelorMittal posted lower-than-expected profits and doubled production cuts as the impact of a global economic slowdown did not spare even the largest steelmaker in the world. Third quarter income of the Luxembourg-based steel giant rose by 29% to $3.82 billion or $2.78 a share thus falling significantly below the estimate of $8.7 billion forecast by... »
