Arcelor Mittal to Create Joint European Works Council

Regulatory News: Arcelor Mittal employee representatives and management have agreed on the principle of a new combined European Works Council (EWC). This new agreement replaces the EWC agreements that previously existed in both Mittal steel and Arcelor prior to the merger and represents a major additional step in the integration process of Arcelor Mittal. The new Arcelor Mittal EWC will be representing over 130.000 employees within the EU27. 21 representatives from 9 countries (Belgium, Czech Republic, France, Germany, Italy, Luxembourg, Poland, Romania and Spain) representing 18 trade unions and supported by the European Metalworkers Federation (EMF) were involved in discussions with Arcelor Mittal. The negotiations where held in a constructive atmosphere and strengthened the quality of the social dialogue. Roland Junck, member of the Arcelor Mittal Group Management Board, in charge of Corporate Functions and Advisor to President & CEO said: "For Arcelor Mittal, social dialogue and employee involvement are key drivers for success. This agreement is yet another major step forward in our integration process. We look forward to work with the new EWC on all the challenges and opportunities we have in Europe. Jacques Laplanche, secretary of the Arcelor European Works Council said: "This is a good agreement and it exceeds provisions of other agreements within the metallurgical industry. The conclusion of this agreement is based on the intention of the two parties to develop a combined Arcelor Mittal identity and a high quality European transnational social dialogue which guarantees the Group’s further successful development in Europe". Uwe Scharnberg, chairman of the Mittal European Works Council commented: "The full commitment of all involved parties and the confidence in the Arcelor Mittal values made this agreement possible". Peter Scherrer, General Secretary of the European Metalworkers Federation commented: "With this agreement Arcelor Mittal management has shown that it combines diversity and coherence with regard to national Industrial Relations which gives a solid basis for working with this agreement and is a clear example for other multinationals". About Arcelor Mittal Arcelor Mittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel. Arcelor Mittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets. Arcelor Mittal key pro forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output. Arcelor Mittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid (MTS) and Valencia.