Mittal Predicts Fresh Wave of Steel Industry Takeovers
David Gow in Luxembourg, Guardian Unlimited
February 22, 2007
Arcelor Mittal, the world's largest steel-maker, yesterday forecast it would deliver even stronger profits in its first full year as a combined group after posting $15.3bn (£7.8bn) pre-tax earnings in 2006, up from $15bn in 2005.
Confirming his group is in a battle with Anglo American and Rio Tinto to take Indian iron ore exporter Sesa Goa for about $1bn, Lakshmi Mittal, chief executive of Arcelor Mittal, also forecast a new wave of takeovers in the global steel industry after Mittal's takeover of Arcelor and Tata's purchase of Corus Steel.
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