ArcelorMittal Published Integrated Annual Report for 2020

SEATTLE (Scrap Monster): The leading steelmaker ArcelorMittal announced publication of its integrated annual report for the year 2020, which focuses on the need to invent smarter steels to help create a better world.

The report noted that 2020 was an extraordinary year by any measure. The global pandemic resulted in unprecedented disruptions, with the company focusing on ensuring safety of its employees, amidst keeping the business running.

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Despite challenges, the company achieved significant progress during the year. It achieved its net debt target and improved the quality and earnings capability of its asset portfolio. The strong balance sheet position, growth portfolio and the competitive cost position put the company in a strong position to register growth and development.

The company announced the launch of XCarb-a significant milestone in its decarbonisation ambitions. The move is considered as a major step in the transition to a low carbon society and is expected to bring significant benefits to the company in the long term. The company expects to report notable progress on key metrics in 2021 as well.

Lakshmi N. Mittal, Executive Chairman, ArcelorMittal said that the company’s vision to remain the world’s leading steel company for many decades to come. The company remains confident that steel will remain the material of choice for building the world’s infrastructure, he added.