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SGL Carbon Secures Multi-Hundred Million Euro ArcelorMittal Contract

FRANKFURT -(Dow Jones)- German carbon fiber producer SGL Carbon SE (SGL.XE) has concluded a five year supply agreement with steel producer ArcelorMittal (MT) for graphite electrodes which an SGL spokesman said Monday is worth several hundred million euros. SGL said the contract is the biggest single contract in its history. The two companies have also agreed to cooperate in total cost of ownership activities, which will reduce costs for both parties, said SGL in a statement. ArcelorMittal board member Davinder Chugh said the cost optimisation efforts will focus on energy usage, specific electrode consumption and inventory carrying costs. Graphite electrodes are used to recycle steel scrap in electric arc furnaces. The proportion of electric arc furnaces in worldwide steel production currently stands at about 30%, according to SGL. -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500

Stock News for Mittal Steel (MT)
DateTimeHeadline
06/28/201614:26:47Report of Foreign Issuer (6-k)
06/14/201614:43:19Report of Foreign Issuer (6-k)
06/09/201613:10:00Cliffs Natural Resources to Reopen Minnesota Mine Early
05/31/201618:10:00ADRs End Mostly Lower; ArcelorMittal Rises
05/31/201610:40:00Cliffs Natural in Deal to Supply ArcelorMittal
05/31/201610:27:00Cliffs Natural in Deal to Supply ArcelorMittal
05/24/201611:56:31Specialized Disclosure Report (sd)
05/19/201610:00:48Report of Foreign Issuer (6-k)
05/11/201610:58:49Report of Foreign Issuer (6-k)
05/11/201610:23:00ArcelorMittal Launches Offer to Buy Back All $1.5 Billion in...
05/09/201618:43:00ADRs End Lower; AngloGold Ashanti, ArcelorMittal Decline
05/07/201603:04:00Steel Giant Expects Pain to Ease -- WSJ
05/06/201623:40:00What's News: Business & Finance
05/06/201615:14:02Report of Foreign Issuer (6-k)
05/06/201615:11:26Report of Foreign Issuer (6-k)
05/06/201609:02:00ArcelorMittal Says Steel Markets Are Stabilizing as Losses Narrow...
05/06/201607:29:00ArcelorMittal Narrows Losses, Cautions on China -- 2nd Update
05/06/201603:50:00ArcelorMittal Narrows Losses, Cautions on China
05/06/201603:04:00ArcelorMittal Narrows Losses, Cautions on China -- Update
05/06/201602:07:00ArcelorMittal Broadly Inline Says Jefferies -- Market Talk

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