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Arcelormittal

October 21, 2019

CampdenFB celebrates in October the Top 75 leading lights in the family business and family office space over its 75 issues.

Last week we profiled the key ones-to-watch in the Emerging Markets of the world. We turned our attention to the inspirational figures in Asia-Pacific in the week before and the major players in the Americas at the start of this series. This week, for the fourth and final section, we focus on arguably the heart of the global community of multigenerational family businesses of wealth—Europe.

CampdenFB celebrates in October the Top 75 leading lights in the family business and family office space over its 75 issues. Last week we profiled the key ones-to-watch in the Emerging Markets of the world. We turned our attention to the inspirational figures in Asia-Pacific in the week before and the major players in the Americas at the start of this series. This week, for the fourth and final section, we focus on arguably the heart of the global community of multigenerational family businesses of wealth—Europe. 

March 9, 2018

Nordstrom rejects offer from founding family, BMW reports record year despite R&D spend-up, and son moves up at ArcelorMittal

Nordstrom rejects offer from founding family

Nordstrom has rejected an $8.4 billion offer from its namesake family, the latest chapter in the family’s ongoing attempt to wrest back control of the retail giant.

A special committee appointed to consider the $50 per share offer from six Nordstrom family members said in a statement they deemed it “inadequate”.

February 8, 2018

ArcelorMittal, LVMH, Akka Technologies, and Nintendo have all reported rising revenues highlighting the strong financial performance of some of the world's billion dollar family businesses in 2017.

ArcelorMittal, LVMH, Akka Technologies, and Nintendo have all reported rising revenues highlighting the strong financial performance of some of the world's billion dollar family businesses in 2017.

World’s largest steelmaker posts 21% revenue spike

Family-owned steel and mining company ArcelorMittal has seen revenues soar 21% to $68.7 billion in the 12 months to 31 December amid a positive outlook for the global steel market.

November 11, 2016

ArcelorMittal posts profit amid cost increase; Henkel beats Q3 expectations; and Berkshire Hathaway shares surge on Trump election

ArcelorMittal posts profit amid cost increase

Family-owned steel giant ArcelorMittal has posted a net profit in the third quarter after cost reductions helped offset a drop in revenue.

However, the Luxembourg-based steelmaker warned higher coking-coal prices and falling US steel prices would hamper profitability in the current quarter.

ArcelorMittal also posted a 40% rise in earnings before interest, taxes, depreciation and amortisation to $1.9 billion, despite a 6.8% drop in revenue to $14.5 billion for the quarter.

May 10, 2013

Revenue and profit figures for a number of big family businesses show parts of the global economy are still affected by weak demand, but News Corp posted a big profit rise.

Revenue and profit figures for a number of big family businesses show parts of the global economy are still affected by weak demand, but News Corp posted a big profit rise.

Bharti Airtel (2 May)
India-based telecommunications company Bharti Airtel had a difficult 2012 according to their full year results. Revenue increased 12% to Rs 803.1billion (€11.3 billion) but net profit fell 47% to Rs 22.8 billion – its lowest profit figure for seven years.

February 11, 2013

Bad weather and austerity have taken their toll on Loews and ArcelorMittal, with the family businesses reporting losses in the last quarter. But family-controlled News Corp and Douglas Holdings have fared better. 

Bad weather and austerity have taken their toll on Loews and ArcelorMittal, with the family businesses reporting losses in the last quarter. But family-controlled News Corp and Douglas Holdings are faring better.

Loews Corp
Loews, the US conglomerate controlled by Tisch family, reported a multi-million loss in its fourth quarter on 11 February, linked to catastrophe losses at CNA Financial, its insurance division, due to Hurricane Sandy.

January 11, 2013

ArcelorMittal, controlled by the Mittal family, has raised $4 billion (€3 billion) through a recent stock offering to tackle its debt issues, prompting some to say the family is diluting its ownership of the world’s biggest steel-maker.

ArcelorMittal, controlled by the Mittal family, has raised $4 billion (€3 billion) through a recent stock offering to tackle its debt issues, prompting some to say the family is diluting its ownership of the world’s biggest steel-maker.

October 23, 2012

Sales and acquisitions have been proving popular with family businesses recently, with French outdoor advertiser JCDecaux and Brazilian food processor JBS in a buying mood, while L Capital and ArcelorMittal are considering selling some of their subsidiaries. 

Sales and acquisitions have been proving popular with family businesses recently, with French outdoor advertiser JCDecaux and Brazilian food processor JBS in a buying mood, while L Capital and ArcelorMittal are considering selling some of their subsidiaries.

Family-controlled JCDecaux has acquired a 25% stake in Russia’s largest billboard operator, Russ Outdoor, which until 2011 was a subsidiary of fellow family-controlled group News Corporation.

May 25, 2011

Aditya Mittal, son of steel tycoon Lakshmi Mittal, has significantly increased his responsibilities at ArcelorMittal in a move some see as preparation for his eventual succession to leading the company.

Aditya Mittal, son of steel tycoon Lakshmi Mittal, has significantly increased his responsibilities at ArcelorMittal in a move some see as preparation for his eventual succession to leading the company.

In a statement on 24 May, the Luxembourg-based steel group said that Aditya, who currently leads operations in the Americas, will take over running the European unit—the company’s biggest but with the lowest earnings.

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