Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

Mittal Steel Announce Expected Savings in the USA Following Completion of ISG Merger

Apr 27 2005

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Mittal Steel announced today the following savings that it expects to achieve in the USA following the recently completed merger with International Steel Group.

  • Over $200 million annually in purchasing and manufacturing alone
    • Purchasing synergies currently projected at $150 million annually due to changes in mix of purchased goods, purchase-price reductions, and integrated purchasing processes
    • Manufacturing synergies will be at least $60 million annually, based on mix and facility optimization plus sharing of best practices
  • Further operating synergies (e.g., reduced S,G, & A) projected at approximately $20 million
  • One-time improvements (e.g., inventory reduction) estimated at approximately $60 million
  • Significant additional opportunities – not incorporated in above estimates
    • in such areas as revenue enhancements, reduced capital expenditures, and contract-related improvements in productivity

http://www.mittalsteel.com

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