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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
08/01/201412:11:04EUROPE MARKETS: ArcelorMittal, Iliad Slump In Europe; AXA Climbs
08/01/201411:24:49ArcelorMittal Warns on Profit as Lower Iron-Ore Price Takes Toll--Update
08/01/201405:15:49ArcelorMittal Agrees to Buy Stake in Guinea's Mount Nimba Iron-Ore...
08/01/201404:13:50ArcelorMittal Warns on Profit as Lower Prices Take Toll -- Update
07/21/201416:40:37Severstal to Sell Its North American Units -- Update
05/13/201420:08:11U.S. Steel Imports Spark Wave of Trade Complaints - Update
05/13/201407:23:53Retooled ThyssenKrupp Raises Profit Outlook--Update
05/09/201417:44:09ADR Shares End Mixed; ArcelorMittal, Alcatel-Lucent Shares Active
05/09/201416:05:35ArcelorMittal Loss Narrows -- 4th Update
05/09/201412:09:48EUROPE MARKETS: European Stocks Fall From Six-year High
04/30/201405:35:40ArcelorMittal to Sell Stake in European Port Handling Firm
04/02/201412:41:19EUROPE MARKETS: European Stocks Extend Win Streak To Seven Sessions
04/02/201409:11:10EUROPE MARKETS: European Stocks Edge Up After Six-session Win...
03/10/201412:50:09ArcelorMittal Says Ukraine Crisis Hit Steel Demand
03/10/201412:27:31Correction to Story on ArcelorMittal Ukraine Domestic Steel Demand
03/10/201412:18:56ArcelorMittal Says Ukraine Crisis Has Hit Domestic Steel Demand
03/10/201409:57:40ArcelorMittal Reaffirms Targets, Buoyed by Steel Demand in Developed...
02/12/201409:52:53ArcelorMittal, Evrim Sign Mexican Iron Ore Exploration Pact
02/07/201417:15:18ADR Shares End Higher; Gafisa, Statoil Shares Active
02/07/201412:17:26EUROPE MARKETS: European Stocks Move Higher After U.S. Jobs Data

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