ArcelorMittal, the world's largest steel manufacturer, has established a new state-of-the- art trade hub in Dubai's Jebel Ali Free Zone as part of the consolidation of offices and sales outlets in the Middle East following the merger of Arcelor and Mittal.
The global steel giant, present in 60 countries with manufacturing units in 20 countries, will use the Jebel Ali facility spread over 86,000 square meters as a hub for all the stocking centers of ArcelorMittal in the Middle East.
Alain Le Grix, Group Management Committee Member, ArcelorMittal and CEO of ArcelorMittal Distribution Solutions, said there is an improvement in demand for steel in the region and, compared to 2012, the market is improving.
The steel company, which recorded revenues of $84.2 billion in 2012, produced 88.2 million tons of crude steel. The Luxemburg-based Indian steel company is controlled by Laxmi Mittal.
With over 320,000 employees in more than 60 countries, ArcelorMittal, formed after the merger of the two leading steel companies Arcelor and Mittal Steel, the company's Middle East operations have been consolidated under Dubai Steel Trading Company (DSTC). All the offices and branches of the two companies in the UAE will be consolidated under one roof in the new facility.
“Dubai Steel Trading Company is a specialized steel solutions provider in the UAE and the Middle East. As a stockist of structural steel products, we have been catering to the needs of the oil and gas and construction industry since 1986. The new facility in Jebel Ali is a fully-equipped covered warehouse and will serve as the headquarters of ArcelorMittal Middle East," said Alain Le Grix.
Alan said the UAE is one place where the company offers all kinds of verticals used in construction foundations and oil and gas.
The merger of Arcelor and Mittal Steel brought together the leading steel makers in Western Europe and Latin America with their counterparts in Northern America, Eastern Europe and the CIS and Africa.
Out of 118 million tons of steel produced worldwide, 22 per cent is manufactured in the USA and Canada, 34 per cent in Western Europe, 18 per cent in Central and Eastern Europe, 10 per cent in CIS and Central Asia, seven per cent in Africa and nine per cent in Latin America.
For eight years, Laxmi Mittal, president and CEO of ArcelorMittal, headed the list of the richest people in Britain. In the just released list of the richest people in the UK, Mittal's position has slipped by four places, yielding his place to Russian billionaire Alisher Usmanov.