July 12 - MarketWatch - The chiefs of two of the world's largest steel makers said Thursday they see more consolidation ahead, most likely across continents and within China's fragmented and fast-growing industry.
Lakshmi Mittal, chief executive of Arcelor Mittal, and John Surma, chief executive of United States Steel Corp., told the Associated Press in a joint interview that the steel industry can expect to see more intercontinental combinations like those of the past year as opposed to the regional marriages of earlier years.
The executives were in New York for a board meeting of the International Iron and Steel Institute, for which Surma serves as chairman.
"I think consolidation now will be between bigger companies and perhaps across longer distances and will be bigger transactions," Surma said. "How quickly that happens depends on how adventuresome companies are and how much they want to risk." Read More.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment