) announced that 5,000 tons of its steel has been used to build
South America's tallest skyscraper, the 237m Infinity Coast Tower
in Brazil. Construction of the tower is currently underway in
Balneario Camboriu, a beach resort in the Brazilian state of
The materials that ArcelorMittal deliver include rebar (CA50
and CA60), as well as annealed wires and nails. The company
supplies steel from its Juiz de Fora (Minas Gerais) and
Piracicaba (Sao Paulo) sites to cut and bend company Dobracor.
The steel supplied by ArcelorMittal will be used in all aspects
of the building construction. The construction is expected to be
completed by 2016.
The steel that is utilized in the construction is certified
with the Brazilian Technical Standards Association (ABNT)
ecolabel. The ABNT ecolabel was granted to five ArcelorMittal
units in Brazil ??? Juiz de Fora, Piracicaba, Cariacica, Itauna
and Sao Paulo.
The structural design of the building is inspired by the
skyline of Dubai and incorporates the latest sustainability
standards. The building will have a facility to reuse the rain
water to wash residents' cars. Also the apartments will be
soundproof which can be made possible by using 'sound blankets'
made of recycled tires. The building will have 66 floors in
Recently, ArcelorMittal announced that its Flat Carbon Europe
(FCE) division will supply about 140,000 tons of drawn and wall
iron (DWI) steels to beverage can producers globally in 2013. The
company will produce the DWI steel at its FCE Packaging Europe
sites in Florange, France and Aviles, Spain. As per
ArcelorMittal, the unique properties of its steel enable beverage
can makers to produce 2,000 beverage cans per minute, with can
walls of 60 micrometers (µm) thickness.
ArcelorMittal released its second-quarter 2013 results in Aug.
The company posted a net loss of $0.8 billion or 44 cents per
share in the quarter compared with a net income of $1 billion or
66 cents per share a year ago. Barring one-time items
(restructuring and impairment charges), loss was 32 cents per
share. Analysts polled by Zacks were expecting earnings of 9
cents a share on average for the quarter. The results were
impacted by lower pricing and weak demand.
Revenues declined 10.1% year over year to $20.2 billion in the
reported quarter and missed the Zacks Consensus Estimate of $20.7
billion. Sales increased 2.3% on a sequential basis due to higher
steel shipment volumes. Shipments declined 1.8% year over year to
21.3 million metric tons in the quarter.
ArcelorMittal currently maintains a Zacks Rank #4 (Sell).
Other companies in the steel industry with favorable Zacks
Nippon Steel & Sumitomo Metal Corporation
Kobe Steel Ltd.
). While Nippon Steel maintains a Zacks Rank #1 (Strong Buy),
Kobe Steel and Ternium hold Zacks Rank #2 (Buy).
KOBE STEEL-ADR (KBSTY): Get Free Report
ARCELOR MITTAL (MT): Free Stock Analysis
NIPPON STEEL CP (NSSMY): Get Free Report
TERNIUM SA-ADR (TX): Free Stock Analysis
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