ANNUAL REPORT ARCELOR 2003 - paperJam

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Company name Consolidation Country Percentagemethodof capital heldcontrol (%)Bmp Siderúrgia S.A., Juiz de Fora Full consolidation Brazil 75.791484Caf Santa Bárbara Ltda, Belo Horizonte Full consolidation Brazil 100.000000Cimaf Cabos S.A., Sao Paulo Equity method Brazil 50.000000Jossan S.A., Feira de Santana Full consolidation Brazil 99.994789Procables S.A., Lima Equity method Peru 47.739239Productos de Acero S.A.. Santiago Equity method Chili 50.000000Usina Hidrelétrica Guilman-Amorim S.A., Belo Horizonte Equity method Brazil 51.000000Wire Rope Industries S.A., Montréal Equity method Canada 50.000000Emesa Trefilería S.A., Arteixo Full consolidation Spain 100.000000Estate Wire Ltd, Sheffield Full consolidation United Kingdom 100.000000Europrofil France S.A., Paris Full consolidation France 99.990000Industrias Gálycas S.A., Vitoria Full consolidation Spain 100.000000LME Laminés Marchands Européens S.A., Trith Saint Léger, subgroup, comprising 13 companies Equity method France 33.999260MecanArbed Dommeldange Sàrl, Luxembourg Full consolidation Luxembourg 100.000000Newco Sàrl, Luxembourg Full consolidation Luxembourg 100.000000Newco Sàrl & Cie Secs, Luxembourg Full consolidation Luxembourg 100.000000ProfilArbed S.A., Esch s/Alzette Full consolidation Luxembourg 100.000000Redalsa S.A., Valladolid Equity method Spain 26.000000San zeno acciai - Duferco Spa, San Zeno Naviglio Equity method Italy 49.900001Socabel (Groupe Arbed) Senc, Luxembourg Full consolidation Luxembourg 100.000000Socadi (Groupe Arbed) Senc, Luxembourg Full consolidation Luxembourg 100.000000Société du Train Universel de Longwy S.A., Herserange Full consolidation France 99.999994Stahlwerk Thüringen GmbH, Unterwellenborn Full consolidation Germany 100.000000Travi e Profilati di Pallanzeno Spa, Pallanzeno Full consolidation Italy 100.000000TrefilArbed Arkansas Inc, Pine Bluff Full consolidation United States 99.999999TrefilArbed Bettembourg S.A., Dudelange Full consolidation Luxembourg 100.000000TrefilArbed Bissen S.A., Bissen Full consolidation Luxembourg 100.000000TrefilArbed Cheb Sro, Jesenice u Chebu Full consolidation Czech Republic 80.000000TrefilArbed Korea Co Ltd. Yangsan Equity method Korea 50.000000TrefilArbed Stahlcord Austria AG, Fürstenfeld Full consolidation Austria 96.502722TrefilArbed Stahlcord Gyártó Kft, Szentgotthard Full consolidation Hungary 100.000000STAINLESS STEEL SECTORAcesita S.A., Belo Horizonte Equity method Brazil 38.938281AL-Fin NV, Genk Full consolidation Belgium 100.000000Alinox Srl, Aosta Full consolidation Italy 100.000000Arcelor Stainless International S.A., Puteaux Full consolidation France 99.997648Haven Genk NV, Genk Full consolidation Belgium 50.000000Horst Zaabel GmbH, Garbsen Full consolidation Germany 100.000000Imphy Alloys subgroup, comprising the following companies:Imphy Alloys Nevada Inc., New York Full consolidation United States 100.000000Hood and Company Inc., Hamburg Full consolidation United States 100.000000IAI Holding Inc., New York Full consolidation United States 100.000000Metalimphy Alloys Corp, Collegeville Full consolidation United States 100.000000Rahns Speciality Metals Inc., Collegeville Full consolidation United States 100.000000Imphy Ugine Précision S.A., Puteaux Full consolidation France 99.999916Industeel Belgium subgroup, comprising the following companies:Industeel Belgium S.A., Charleroi Full consolidation Belgium 100.000000Aval Metal Center S.A., Charleroi Full consolidation Belgium 100.000000Charleroi Déroulage S.A., Charleroi Full consolidation Belgium 100.000000182ANNUAL REPORT ARCELOR 2003
Company name Consolidation Country Percentagemethodof capital heldcontrol (%)Industeel France subgroup, comprising the following companies:Industeel France S.A., Puteaux Full consolidation France 99.999400Industeel Creusot Sas, Puteaux Full consolidation France 100.000000Creusot Métal S.A., Puteaux Full consolidation France 74.999167J&L subgroup, comprising the following companies:J&L Speciality Steel Inc., Coraopolis Full consolidation United States 100.000000J&L Speciality Steel International Sales Corp, Christiansted Full consolidation United States 100.000000Midland Terminal Company Corp, Midland Full consolidation United States 100.000000La Meusienne Italia Srl, Milan Full consolidation Italy 100.000000Longtain Aciers Spéciaux et Inoxydables S.A., Strepy-Bracquegnies Full consolidation Belgium 97.967211Matthey et Cie S.A., Apples Full consolidation Switzerland 100.000000Matthey France Sas, Ancerville Full consolidation France 100.000000Matthey Holding S.A., Fribourg Full consolidation Switzerland 100.000000Matthey US Inc., Detroit Full consolidation United States 100.000000Mecagis S.A., Puteaux Full consolidation France 100.000000RCC GmbH, Erkrath Full consolidation Germany 100.000000Société Carolorégienne de Laminage S.A., Couillet Full consolidation Belgium 100.000000Société Meusienne de Constructions Mécaniques S.A., Ancerville Full consolidation France 99.910716Société Savoisienne de Métaux S.A., Annecy Full consolidation France 100.000000Sprint Metal Edelstahlziehereien GmbH, Hemer Full consolidation Germany 100.000000Staalcentrum Limburg NV, Genk Full consolidation Belgium 100.000000Sunbrite NV, Genk Full consolidation Belgium 100.000000Techalloy Company Inc., Mahwah Full consolidation United States 100.000000Thainox Steel Ltd, Rayong Full consolidation Thailand 96.110011Trafilerie Bedini Srl, Peschiera Borromeo Full consolidation Italy 100.000000Trafilerie e Viterie Italiane Srl, Ponte dell’Ollio Full consolidation Italy 99.920000Trefilados Inoxidables de Mexico S.A., Huamantla Full consolidation Mexico 100.000000Ugine & Alz S.A.. Puteaux Full consolidation France 99.851852Ugine & Alz Belgium NV. Genk Full consolidation Belgium 100.000000Ugine & Alz France S.A. Puteaux Full consolidation France 99.999978Ugine & Alz France Service S.A. Gonesse Full consolidation France 100.000000Ugine & Alz Iberica S.A., Viladecans Full consolidation Spain 99.999480Ugine & Alz Italia Srl, Milano Full consolidation Italy 100.000000Ugine & Alz Luxembourg S.A., Rodange Full consolidation Luxembourg 100.000000Ugine France Service S.A., Gonesse Full consolidation France 100.000000Ugine Iberica S.A., Viladecans Full consolidation Spain 99.999480Ugine Savoie Iberica S.A., Barcelona Full consolidation Spain 100.000000Ugine Savoie Imphy S.A., Ugine Full consolidation France 99.999948Ugine Savoie Italia Srl, Peschiera Borromeo Full consolidation Italy 100.000000Ugine Savoie Rostfrei GmbH, Renningen Full consolidation Germany 100.000000Ugine Savoie Suisse S.A., Belivard Full consolidation Switzerland 99.998519Ugine Savoie UK Ltd, Birmingham Full consolidation United Kingdom 99.999960Ugine Stainless subgroup, comprising the following companies:Ugine Stainless & Alloys Inc., Colmar Full consolidation United States 100.000000Ugine Stainless & Alloys – N.J. Inc., Colmar Full consolidation United States 100.000000Uginox Sanayi ve Ticaret AS, Gebze Kocaeli Full consolidation Turkey 65.000000Ugitech S.A., Ugine Full consolidation France 99.999948Ugitech Iberica S.A., Barcelona Full consolidation Spain 100.000000Ugitech Suisse S.A., Belivard Full consolidation Switzerland 99.998519Ugitech UK Ltd, Birmingham Full consolidation United Kingdom 99.999960Usi Holding Inc.Corp, Carson City Full consolidation United States 100.000000financial information > consolidated financial statementsANNUAL REPORT ARCELOR 2003 183
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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
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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
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Report of the Chairman of the Board
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Role and authority of the Board of
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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
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The adaptation plan - industrial re
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table of contents >Distribution-Pro
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2. ORGANISATION OF THE SECTORThe ye
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Other ActivitiesThe “Other Activi
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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
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Organisation of Sustainable Develop
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indicators 2002 2003Principle 4 - O
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Group profitabilityObjectives• Av
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Arcelor Health and Safety policyArc
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Safety certificationsSeveral Arcelo
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Arcelor Environmental PolicyArcelor
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Implementation of a monitoring plan
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Dialogue with all stakeholdersObjec
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Dialogue with societyArcelor partic
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Development of individual interview
Page 116 and 117:
Scientific CouncilChairman:• Marc
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Corporate governanceObjectives• E
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SponsorshipEvery year, the various
Page 122 and 123:
Durability: Manufacturers are now a
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GENERAL INFORMATION ABOUTARCELORCor
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Cold-rolled flat products: In 2001,
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Safeguard clause• United States:
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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 182 and 183: 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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