ANNUAL REPORT ARCELOR 2003 - paperJam

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Company name Consolidation Country Percentagemethodof capital heldcontrol (%)Decosteel NV, Geel Full consolidation Belgium 100.000000Decosteel 2 NV, Gent Full consolidation Belgium 100.000000Dermach S.A., Barcelona Full consolidation Spain 100.000000Eko Feinblechhandel GmbH, Eisenhüttenstadt Full consolidation Germany 100.000000Eko Recycling GmbH, Eisenhüttenstadt Full consolidation Germany 100.000000Eko Stahl GmbH, Eisenhüttenstadt Full consolidation Germany 100.000000Eko Transport GmbH, Eisenhüttenstadt Full consolidation Germany 100.000000Eurogal S.A., Flemalle Full consolidation Belgium 100.000000Ewald Giebel-Luxemburg GmbH, Dudelange Equity method Luxembourg 33.333333Fbh Eko Feinblechhandel GmbH, Burbach Full consolidation Germany 100.000000Galtec NV, Gent Full consolidation Belgium 100.000000Galvalange Sàrl, Dudelange Full consolidation Luxembourg 100.000000Gestamp Automocion SL, Abadiano, subgroup, comprising 58 companies Equity method Spain 34.999989Gonsider SL, Madrid Equity method Spain 42.871384Gonvarri Industrial S.A., Madrid, subgroup, comprising 16 companies Equity method Spain 29.850431Groupement de l’Industrie Sidérurgique S.A., Puteaux Full consolidation France 99.999908Hierros y Aplanaciones S.A., Corvera Equity method Spain 15.001999Holding Gonvarri Srl, Bilbao Equity method Spain 30.000000Irsid S.A., Puteaux Full consolidation France 99.779149La Magona subgroup, comprising the following companies:La Magona d’Italia Spa, Firenze Full consolidation Italy 99.791940Centro Acciai Rivestiti Srl, Piombino Full consolidation Italy 100.000000Magona International S.A., Luxembourg Full consolidation Luxembourg 99.990000Societa Mezzi Portuali Piombino Spa, Piombino Equity method Italy 50.000000Tubisud Srl, Luogosano Full consolidation Italy 55.000000Laminoir de Dudelange S.A., Dudelange Full consolidation Luxembourg 100.000000Ocas NV, Zelzate Full consolidation Belgium 100.000000R.Bourgeois S.A., Besançon Equity method France 29.996667Recherche et Développement du Groupe Cockerill Sambre Scrl, Liège Full consolidation Belgium 96.000000Sidgal ESV, Gent Full consolidation Belgium 100.000000Siderúrgica del Mediterráneo S.A., Puerto Sagunto Full consolidation Spain 100.000000Sidmar NV, Gent Full consolidation Belgium 99.542813Sidstahl NV, Gent Full consolidation Belgium 100.000000Sikel NV, Genk Full consolidation Belgium 100.000000Solblank France S.A., Uckange Full consolidation France 51.481081Solcan Fininvest subgroup, comprising the following companies:Solcan Fininvest Inc., Westmount Full consolidation Canada 100.000000Dosol Galva Inc., Hamilton Equity method Canada 20.000000Sollac Ambalaj Celigi S.A., Levent-Istanbul Full consolidation Turkey 74.999931Sollac Atlantique S.A., Puteaux Full consolidation France 99.999900Sollac Lorraine S.A., Puteaux Full consolidation France 99.999832Sollac Méditerranée S.A., Puteaux Full consolidation France 99.999867Solvi S.A., Puteaux Full consolidation France 100.000000Stahlhandel Burg GmbH, Burg Full consolidation Germany 100.000000Stahlwerke Bremen GmbH, Bremen Full consolidation Germany 69.668370Taylormetal S.A., Zaragoza Full consolidation Spain 100.000000Tailor Steel NV, Genk Full consolidation Belgium 100.000000Tailor Steel America Llc, Holt Full consolidation United States 70.602704Tailor Steel GmbH & Co KG, Bremen Full consolidation Germany 100.000000Tailor Steel Investment Llc, New York Full consolidation United States 100.000000Tailored Blank GmbH, Eisenhüttenstadt Full consolidation Germany 100.000000180ANNUAL REPORT ARCELOR 2003
Company name Consolidation Country Percentagemethodof capital heldcontrol (%)Tailored Blanks Genk S.A., Genk Full consolidation Belgium 100.000000Tailored Blanks Zaragoza S.A., Zaragoza Full consolidation Spain 100.000000Tailored Blanks S.A., Liège Full consolidation Belgium 100.000000Toleries Delloye-Matthieu S.A., Marchin Full consolidation Belgium 99.743421Vega do Sul S.A., Sao Francisco Full consolidation Brazil 68.852457LONG CARBON STEEL SECTORAceralia Perfiles subgroup, comprising the following companies:Aceralia Perfiles Bergara S.A., Bergara Full consolidation Spain 100.000000Aceralia LC Torino Srl, Torino Full consolidation Italy 100.000000Aceralia Perfiles SL, Madrid Full consolidation Spain 100.000000Aceralia Perfiles Madrid SL. Madrid Full consolidation Spain 100.000000Aceralia Perfiles Olaberria SL. Olaberria Full consolidation Spain 100.000000Aceralia Perfiles U.K. Ltd. Rayleigh Full consolidation United Kingdom 100.000000Aceralia Perfiles Zaragoza S.A. Zaragoza Full consolidation Spain 100.000000Arcelor LC Bordeaux S.A., Mérignac Full consolidation France 97.800000Aristrain Hispano Trade GmbH, Düsseldorf Full consolidation Germany 100.000000Consignaciones Asturianas S.A., Gijón Equity method Spain 50.000000Fercome Trading SL, Valencia Full consolidation Spain 100.000000Ilsacer 2000 SL, Zaragoza Equity method Spain 50.000000Kramer & Sons Trading Co, Detroit MI Equity method United Kingdom 50.000000Servicios Complementarios del Norte SL. Bilbao Equity method Spain 49.000000Sobrinos De Manuel Cámara S.A. Renteria Equity method Spain 50.000000Sociedad Auxiliar del Puerto de Pasajes S.A. Renteria Equity method Spain 50.000000Triturados Férricos SL, Madrid Equity method Spain 33.300000Aceralia Redondos subgroup, comprising the following companies:Aceralia Redondos Azpeitia SL, Azpeitia Full consolidation Spain 100.000000Aceralia Redondos Comercial S.A., Azpeitia Full consolidation Spain 100.000000Aceralia Redondos Getafe SL, Getafe Full consolidation Spain 100.000000Aceralia Redondos Lasao S.A., Azpeitia Full consolidation Spain 100.000000Aceralia Redondos Zumárraga S.A. Zumárraga Full consolidation Spain 100.000000Aciérie de l'Atlantique S.A., Boucau Full consolidation France 100.000000Arcelor Barras Comercial SL, Azpeitia Full consolidation Spain 100.000000Société Nationale de Sidérurgie S.A., Al Hoceima Equity method Morocco 8.500000Acindar Industria Argentina de Aceros S.A., Buenos Aires. subgroup, comprising 13 companies Equity method Argentina 21.635885Arbed-Finanz Deutschland GmbH. Saarbrücken Full consolidation Germany 99.000000Arcelor Long Commercial S.A.. Esch s/Alzette Full consolidation Luxembourg 100.000000Arcelor Long Commercial Deutschland GmbH, Köln Full consolidation Germany 100.000000Arcelor Rails, Piles & Special Sections Sàrl. Esch s/Alzette Full consolidation Luxembourg 100.000000Ares S.A. Rodange Full consolidation Luxembourg 80.760303Armasteel S.A. Wavre Full consolidation Belgium 100.000000Asbm Sàrl. Luxembourg Full consolidation Luxembourg 100.000000Belgo-Mineira subgroup, comprising the following companies:Companhia Siderúrgica Belgo-Mineira S.A. Belo Horizonte Full consolidation Brazil 60.599059Belgo Bekaert Arames S.A. Contagem Full consolidation Brazil 54.871282Belgo-Mineira Participacão Indústria e Comércio S.A., Juiz de Fora Full consolidation Brazil 99.999999Belgo-Mineira Uruguay S.A., Montevideo Full consolidation Uruguay 100.000000BelgoPar Ltda, Belo Horizonte Full consolidation Brazil 33.355571Bemex International Ltd, Hamilton Full consolidation Bermuda 100.000000Bmb Belgo-Mineira Bekaert Artefatos de Arame Ltda, Vespasiano Full consolidation Brazil 55.499970Bmf Belgo-Mineira Fomento Mercantil Ltda, Belo Horizonte Full consolidation Brazil 100.000000financial information > consolidated financial statementsANNUAL REPORT ARCELOR 2003 181
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ANNUAL REPORT ARCELOR 2003ANNUAL RE
Page 4 and 5:
Message from the Chairman ofthe Boa
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Message from the Chairman ofthe Man
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Does this mean that the Group is en
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8ANNUAL REPORT ARCELOR 2003
Page 12 and 13:
Portrait of the GroupArcelor was bo
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The Arcelor/Nippon Steel Corporatio
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Key Figures for 2003Revenues (1) Re
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2003 highlightsOn January 24, 2003,
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Corporate GovernanceBoard of Direct
Page 22 and 23:
Report of the Chairman of the Board
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Role and authority of the Board of
Page 26 and 27:
4.2. The Audit Committee andthe App
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AuthorityThe powers of the Manageme
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B. Internal Control Procedures1. GO
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3.3. Internal control procedures go
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Information regarding capital, mark
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Market informationListingArcelor sh
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Information policyArcelor intends t
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Page 42 and 43:
table of contents >Flat Carbon Stee
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Within this context, and in order t
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3.3. Packaging steelsThe packaging
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table of contents >Long Carbon Stee
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3. THE SECTOR’S PRODUCTS ANDMARKE
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table of contents >Stainless Steels
Page 54 and 55:
The distribution of the UGINE & ALZ
Page 56 and 57:
The adaptation plan - industrial re
Page 58 and 59:
table of contents >Distribution-Pro
Page 60 and 61:
2. ORGANISATION OF THE SECTORThe ye
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Other ActivitiesThe “Other Activi
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Page 66 and 67:
Group Consolidated Management Repor
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Trends in global crude steel produc
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Financial highlights for the GroupI
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Return on capital employed (ROCE) b
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BUSINESS BY SECTORFlat Carbon Steel
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Even though shipments in 2003 in th
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From a financial standpoint, and ex
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The Trading and Distribution busine
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- in September 2003, the sale of th
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The market tightness provoked by th
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Risk ManagementGeneral legal risks
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Group purchasing performanceIn addi
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Implementation of the Sustainable D
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Arcelor’s principles Principal ac
Page 96 and 97:
Organisation of Sustainable Develop
Page 98 and 99:
indicators 2002 2003Principle 4 - O
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Group profitabilityObjectives• Av
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Arcelor Health and Safety policyArc
Page 104 and 105:
Safety certificationsSeveral Arcelo
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Arcelor Environmental PolicyArcelor
Page 108 and 109:
Implementation of a monitoring plan
Page 110 and 111:
Dialogue with all stakeholdersObjec
Page 112 and 113:
Dialogue with societyArcelor partic
Page 114 and 115:
Development of individual interview
Page 116 and 117:
Scientific CouncilChairman:• Marc
Page 118 and 119:
Corporate governanceObjectives• E
Page 120 and 121:
SponsorshipEvery year, the various
Page 122 and 123:
Durability: Manufacturers are now a
Page 124 and 125:
Page 126 and 127:
GENERAL INFORMATION ABOUTARCELORCor
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Cold-rolled flat products: In 2001,
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Safeguard clause• United States:
Page 132 and 133: 130ANNUAL REPORT ARCELOR 2003
Page 134 and 135: Consolidated financial statementsof
Page 136 and 137: CONSOLIDATED CASH FLOW STATEMENTIn
Page 138 and 139: NOTES TO THE CONSOLIDATED FINANCIAL
Page 140 and 141: Assets intended to be disposed of o
Page 142 and 143: AmortisationAmortisation is recogni
Page 144 and 145: 13) EquityRepurchase of share capit
Page 146 and 147: 18) Other provisionsA provision is
Page 148 and 149: The major changes in the consolidat
Page 150 and 151: NOTE 4 - INTANGIBLE ASSETSGoodwill
Page 152 and 153: NOTE 5 - PROPERTY, PLANT AND EQUIPM
Page 154 and 155: NOTE 7 - OTHER INVESTMENTSThe main
Page 156 and 157: NOTE 13 - EQUITY13.1 Issued capital
Page 158 and 159: NOTE 15 - MINORITY INTERESTSIn the
Page 160 and 161: 16.6 Detail of main individual long
Page 162 and 163: 17.2.2 Additional pension plansFran
Page 164 and 165: 17.2.3 Leaving indemnities (continu
Page 166 and 167: 18.2 Early retirement plansAn actua
Page 168 and 169: NOTE 22 - NET FINANCING RESULTIn EU
Page 170 and 171: NOTE 24 - RELATED PARTY DISCLOSURES
Page 172 and 173: The portfolio of financial instrume
Page 174 and 175: NOTE 26 - COMMITMENTS GIVEN AND REC
Page 176 and 177: 27.1 Breakdown by activity (continu
Page 178 and 179: 27.2 Geographical breakdown(Figures
Page 180 and 181: NOTE 29 - RECONCILIATION OF THE ARC
Page 184 and 185: Company name Consolidation Country
Page 192 and 193: Audit31, Allée Scheffer Telephone
Page 194 and 195: Annual accounts Arcelor S.A.ANNUAL
Page 196 and 197: INCOME STATEMENT FROM JANUARY 1 TO
Page 198 and 199: NOTE 3 - STATEMENT OF TANGIBLE FIXE
Page 200 and 201: NOTE 8 - PROVISIONS FOR LIABILITIES
Page 202 and 203: NOTE 14 - DIRECTORS’ REMUNERATION
Page 204 and 205: Arcelor Ordinary General Meeting on
Page 206 and 207: GlossaryAnnealing:The heat treatmen
Page 208 and 209: How steel is made?a 3-stage process
Page 210 and 211: Arcelor’s main steel-manufacturin
Page 212 and 213: NOTES210ANNUAL REPORT ARCELOR 2003
Page 214: Concept and realization133, avenue
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