Sep 17 2008
ArcelorMittal today announces a new “Management Gains” plan that will target USD 4 billion of cost savings over the next 5 years.
This plan will focus on increasing employee productivity, reducing energy consumption and decreasing input costs to achieve a higher yield and improved product quality.
Commenting, Aditya Mittal, CFO, said: “Since our merger, we have improved our cost leadership due to our successful integration, our 2008 value plan and realisation of merger synergies. In order to further enhance this cost leadership, we have now targeted a further US$4 billion of management gains to be realised over the next 5 years.”