This article needs additional citations for verification .(January 2008) |
Industry | Steel |
---|---|
Predecessor | LTV Steel, Bethlehem Steel |
Founded | 2002 |
Defunct | 2005 |
Fate | Acquired |
Successor | Mittal Steel |
Headquarters | , United States |
Website | (archived) |
International Steel Group(ISG) was an American steel company, headquartered in Cleveland, Ohio, [1] which was established by the New York investment firm WL Ross & Co LLC to acquire the assets of bankrupt steel companies and combine them together in a new company.
In 2004 it was ranked #426 on the Fortune 500 list. [1]
International Steel Group was created in 2002, after the turn-around investment fund WL Ross & Co. LLC, purchased the LTV Steel (Ling-Temco-Vought) and Acme Steel corporations. [1]
The next year, it acquired what was left of the remaining assets of the dissolved Bethlehem Steel, formerly America's second-largest steel producer, without merging.
In 2005, ISG was acquired by Mittal Steel, which merged with Arcelor to become ArcelorMittal in 2006.
The Luxembourg based ArcelorMittal is an integrated steel and mining multinational corporation, and is the world's largest steel producer as of 2014 [update] . [2] [3]
The Bethlehem Steel Corporation was an American steelmaking company headquartered in Bethlehem, Pennsylvania. For most of the 20th century, it was one of the world's largest steel producing and shipbuilding companies. At the height of its success and productivity, the company was a symbol of American manufacturing leadership in the world, and its decline and ultimate liquidation in the late 20th century is similarly cited as an example of America's diminished manufacturing leadership. From its founding in 1857 through its 2003 dissolution, Bethlehem Steel's headquarters and primary steel mill manufacturing facilities were based in Bethlehem, Pennsylvania in the Lehigh Valley region of the United States.
Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004. The company was created in 2002 by a merger of the former companies Aceralia (Spain), Usinor (France) and Arbed (Luxembourg).
Lakshmi Niwas Mittal is an Indian steel magnate, based in the United Kingdom. He is the Executive Chairman of ArcelorMittal, the world's second largest steelmaking company, as well as Chairman of stainless steel manufacturer Aperam. Mittal owns 38% of ArcelorMittal and holds a 3% stake in EFL Championship side Queens Park Rangers.
Ling-Temco-Vought (LTV) was a large American conglomerate which existed from 1961 to 2000. At its peak, it was involved in aerospace, airlines, electronics, steel manufacturing, sporting goods, meat packing, car rentals, and pharmaceuticals, among other businesses.
Mittal Steel Company N.V. was an Indian company and one of the world's largest steel producers by volume and turnover. After a merger in 2005, it is now part of ArcelorMittal.
China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016. It is the world's largest steel producer.
Weirton Steel Corporation was a steel production company founded by Ernest T. Weir in West Virginia in 1909. It was at one time one of the world's largest producers of tin plate products.
ArcelorMittal Kryvyi Rih (former Kryvorizhstal is Ukraine's largest integrated steel company, founded in 1934 and located in Kryvyi Rih, in central Ukraine.
Maryland Steel, in Sparrows Point, Maryland, US, was founded in 1887. It was acquired by Bethlehem Shipbuilding Corporation in 1916 and renamed as the Bethlehem Sparrows Point Shipyard. The shipyard was sold in 1997 to Baltimore Marine Industries Inc.. In 2012, it was owned by Barletta Industries, which had converted it to the Sparrows Point Shipyard and Industrial Complex. As of 2021, it is owned by Sparrows Point Terminal, LLC and has been renamed Tradepoint Atlantic.
The Brandywine Valley Railroad is a class III railroad operating in Pennsylvania.
Aceralia was a large Spanish steel producer formed in 1997 by restructuring of a group formed from earlier mergers of the steel producers ENSIDESA and Altos Hornos de Vizcaya. The company merged into Arcelor in 2001, and became part of ArcelorMittal in 2006.
Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company in Russia. The company is majority-owned and controlled by billionaire Alexey Mordashov.
ArcelorMittal S.A. is a Luxembourgian multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel. ArcelorMittal is the second largest steel producer in the world, with an annual crude steel production of 88 million metric tonnes as of 2022. It is ranked 197th in the 2022 Fortune Global 500 ranking of the world's largest corporations. It employs directly and indirectly 200,000 people and its market capital is $25 billion. The total value of company assets is estimated to be around $100 billion.
Copperweld is an American company based in Fayetteville, Tennessee, and maintaining a management office in Brentwood, Tennessee. Its main products are wire and stranded electrical cable made from its Copperweld brand copper-clad steel ("CCS") or copper-clad aluminium ("CCA"). In addition to its American operations, Copperweld maintains a production facility in Telford, England, and a distribution hub in Liège, Belgium.
Lukens Steel Company, located in Coatesville, Pennsylvania, is the oldest steel mill in commission within the United States.
Essar Group is an Indian multinational conglomerate company, founded by Shashi Ruia and Ravi Ruia in 1969. As Essar Global Fund Limited (EGFL), the company controls a number of assets across the core sectors of energy, infrastructure & logistics, metals & mining, technology and retail. EGFL holds nearly 100% stake in all its investments.
Essar Steel was a common name of the steel manufacturing companies of the Essar Group of Companies. Its main subsidiary was Essar Steel India Limited, a fully integrated flat carbon steel manufacturer based in Mumbai, which owned and operated a steel mill in Hazira, Surat district of Gujarat state. In addition, it had also a beneficiation plant at Bailadilla, Chhattisgarh, and pellet plants at Visakhapatnam, Andhra Pradesh, and Paradeep, Odisha. After insolvency, Essar Steel India Limited was acquired by ArcelorMittal Nippon Steel India Limited. Aditya Mittal is the Chairman of ArcelorMittal Nippon Steel and Dilip Oommen is the CEO.
Ilva S.p.A. is an Italian steel company that for much of the 20th century was Italy's largest steel producer and one of the largest in Europe. In June 2017, Arcelor Mittal became the chief shareholder. On 23 April 2021, capital was infused by the government of Mario Draghi, which took a 38% share and 50% of the voting rights.
WL Ross & Co is a private equity company founded and based in New York by Wilbur Ross in April 2000. The company focuses on investments in financially distressed companies with undervalued stocks, in the $100 to $200 million range, usually in the United States, Asia, Korea, Ireland, Japan, France and China. By acquiring majority stake in their investments through purchases and/or buyouts, WL Ross & Co. LLC then have the option of restructuring, turnarounds, mergers, reorganizations and industry consolidation. Starting in 2002, WL Ross began acquired the assets of bankrupt steel companies such as LTV Steel Corp, Bethlehem Steel, Weirton Steel, Acme Steel, Georgetown Steel, Youngstown Sheet and Tube, and Republican Steel. By 2003 Ross had established relationships with the United Steelworkers, promising to save jobs. WL Ross founded the company International Steel Group (ISG) by combining bankrupt LTV Corp., Acme Steel and Bethlehem Steel, which quickly became the largest integrated steel company in the United States and was a Fortune 500 company by 2005.