Arcelor has announced strong third-quarter results, mainly driven by contributions from the Long Carbon Steel and Distribution Sectors. Consolidated revenues for the Group for the first nine months of 2004 amounted to EUR 21,745 million compared to EUR 19,451 million for the same period last year. Net consolidated result, Group share, was EUR 1494 million for the first nine months of 2004, compared with EUR 459 million at September 30, 2003. While business is usually slower in the third quarter, in 2004 the period was marked by a stronger than usual level of activity, not only as far as sales were concerned but also with regard to the âtransformationâ? of the group. In the most recent weeks, additional developments confirmed the acceleration of the change process in the industry. Brazil is one of the key focus areas for the long term development of Arcelor. The various Arcelor businesses in that country have announced ambitious development plans. Capacity increases are under way at flat steel producer CST, where a third blast furnace is going to be built, and are being studied at longs producers Belgo-Mineira (Juiz de Fora and Monlevade plants) and Acindar in Argentina. Arcelor is looking to group its Brazilian participations in a single company that could be listed at the Brazilian stock exchange in 2005. Arcelor would keep a majority stake in such a listed company. Other growth areas include Russia, India, China and Eastern Europe. In India, a project for a stainless precision strip plant together with the Indian company Jindal was launched on 12 August by Arcelorâs subsidiary IUP. Arcelor already has technology agreements for galvanised steel with Tata Steel in India. In China, Arcelor inaugurated a new plant for tailor welded blanks (laser-welded parts for auto manufacturers) with its local partner Bao Steel on 9 November. In Central and Eastern Europe, Arcelor has been expanding recently through the construction of a new steel service centre in Slovakia as well as through the launch of the construction for a new stainless steel tube plant for automotive exhausts in the Czech Republic through the groupâs subsidiary Matthey.
