At the outbreak of Covid-19 the Board of Directors of ArcelorMittal has decided to hold a General meeting this year only in the format of virtual access, as permitted by the laws of Luxembourg, the city where the Central office of a metallurgical company.
As reported in the press service of ArcelorMittal, the shareholders approved the re-election of Lakshmi N. Mittal, Mr. Bruno Lafont, Mr. Michel Wurth and the election of Mr. of Aditya Mittal and Mr. Etienne Schneider to the position of Directors of ArcelorMittal for a term of three years each, and also took the decision to increase the share capital of the company and, accordingly, to change its Charter.
In the first quarter net loss of ArcelorMittal exceeded of 1.12 billion, compared with a profit of 414 million dollars a year earlier.
against the background of significant measures to reduce costs, undertaken in the framework of the business, the Board of Directors of ArcelorMittal has considered it appropriate to suspend dividends as long as "the operating environment is not normal".
the Net's largest steel company ArcelorMittal the world in 2019 was reduced by 7.3% to 70,615 billion, while net profit 5,149 billion received in 2018 was changed to a net loss of 2,454 billion USD in 2019.
