ArcelorMittal’s stainless steel division has published its European prospectus and demerger plan. They have devised a USD 250 million profit enhancement plan for their stainless steel division and renamed the division Aperam. Aperam has also launched an initiative referred to as the Leadership Journey to target management gains and profit enhancement of USD 250 million over the next two years. The program will focus on cost reductions and increasing productivity. As part of this program, Aperam will convert its blast furnace number 2 in Brazil to charcoal and temporarily suspend its 100,000 ton cold rolling mill in Isbergues. They will also invest USD 62 million in the productivity of its hot annealing and pickling line in Gueugnon, France.
