ArcelorMittal is the world's leading steel manufacturing company headquartered in Luxembourg and producing approximately 10% of the world's steel. It was created in the early 21st century through the merging of Arcelor, a new Luxembourg owned company, and Mittal Steel, a giant Indian steel producer. The owner of the latter, Lakshmi Mittal, with 40% of its shares became chairman of the new corporation. The company specializes in coal and iron ore mining and processing all over the world, including the countries of the CIS. Soon after the merging, the company showed up negative trends owing to the difficult situation in global markets, it had to close entire factories. Ten years later its financial standing was stabilized, and in 2017 the company announced its annual profit. These days ArcelorMittal demonstrates overall progress in all indicators. China has become its principal partner, that's why the company is planning to open up new enterprises in that country. At the same time, new plants have been acquired in the USA and Italy. ArcelorMittal shares have good growth prospects - in spite of the general decline in the steel industry, the company has yielded positive results in a short period of time. In 2017 the company's net income amounted to $4.5 billion. All funds are invested in research and development of new steel grades for the automotive industry. Among over 200 steel varieties, ArcelorMittal has released a high-strength one which is one-third stronger than steels that came out before.
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