The world's largest integrated mining and metals company ArcelorMittal has announced a new management gains plan that will target $4 billion in cost savings over the next five years.
This plan of ArcelorMittal will mainly focus on increasing employee productivity, reducing energy consumption and decreasing input costs in order to achieve a higher yield and improved product quality.
Commenting on the new plan, ArcelorMittal CFO Aditya Mittal said that the company has already improved its cost leadership due to the successful integration, value plan and realization of merger synergies and now will seek further enhancement of its cost leadership.