ArcelorMittal, the leading company on the world metallurgical market, finished III quarter with net losses amounting to USD 711 mln and reported on suspension of payment of annual dividends. This information is contained in company report, RBC-Ukraine (РБК-Украина) reports.
According to the company, the reason for suspension of payment of dividends is the difficult financial situation. For comparison, company finished the same period in 2014 with profit of USD 22 mln, while in the current year as per nine months results the ArcelorMittal losses have already reached USD 1.3 billion.
In its message the company also notes that market conditions have worsened due to increase of supplies of cheap steel from China.
