Mittal loses its mettle

Mittal Steel, whose recent $22.3 billion bid for Arcelor was rejected, has announced a 28.4 per cent drop in annual profits.
The company reported net income of $3.365 billion in 2005, compared with $4.7 billion in 2004, blaming the slide on rising costs and a number of acquisitions and reorganisations.
However, the Anglo-Dutch company showed an upturn in the last quarter of 2005, with net profits rising 36 per cent to $7.05 billion.
Chairman and CEO Lakshmi N. Mittal said that Europe needs a stronger steel sector to compete with
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
UK not prepared for climate impacts, says CCC
Perhaps a Longtitude prize to solve railway line problems. "extreme heat causing further disruption through rail buckling and power line...