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Financially, ArcelorMittal South Africa expects to see a considerable decline in earnings for 2024. Revenue for the year is projected to fall by more than 5%, largely due to weak market conditions ...
ArcelorMittal South Africa is part of the steel company Arcelor-Mittal. [ 1 ] [ 2 ] The company was originally Iscor Ltd. , a South African parastatal steel company. It was founded in 1928 and was first listed on the JSE Securities Exchange in 1989.
In August 2024, ArcelorMittal acquired a 27.5% interest in Vallourec, a producer of seamless steel tubes, from funds managed by Apollo Global Management for €955 million. [63] [64] In 2025, the company's South Africa division ended production of long steel products due to high logistic and energy costs. [65]
Saldanha Steel was a South African steel company originally formed as a partnership between Iscor Limited and the Industrial Development Corporation (IDC). [1] Saldanha Steel is now part of ArcelorMittal South Africa, which in turn is part of global steel company ArcelorMittal .
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[citation needed] The area straddles the Vaal River and is a major industrial region, which is home to former Iron and Steel Corporation Iscor, now ArcelorMittal South Africa, and Sasol, respectively the steel and petrochemical processing facilities. [3] [4]
In 2004, it bought a majority stake in Iscor, renamed Mittal Steel South Africa. [6] In 2004, the company acquired Polskie Huty Stali, BH Steel, and certain Macedonian facilities from Balkan Steel. [4] In 2004, it merged with LNM Holdings and was renamed Mittal Steel. [4] [1] In January 2005, the company acquired Tadeusz Sendzimir Steelworks. [7]
Vanderbijlpark is home to Vanderbijlpark Steel, previously part of the South African Iron and Steel Corporation , which subsequently became a subsidiary of the global company ArcelorMittal. With neighbouring cities Vereeniging and Sasolburg , it forms the Vaal Triangle , historically a major industrial region of South Africa.