Mittal Steel will focus on
China and
India once the company has pulled off its planned $22.1 billion takeover of Arcelor.
Mittal Steel CFO Mr. Aditya Mittal said “After purchasing Arcelor, we will have a commanding position in
Europe and
North America, so the focus will be on
China and
India.”
“For every dollar we spend on research and development, we can leverage it over 130 million metric tons of
production. Over time we will have more market share. Our competitors have a choice: they can remain one third of our size or join in the consolidation,” said Mr. Mittal.