ANNUAL REPORT ARCELOR 2003 - paperJam

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table of contents >Stainless Steels, Alloys and Special Plates1. Strategy p512. Organisation of the sector p513. The sector’s products and markets p513.1 Stainless steel flat products p513.2 Stainless steel long products p533.3 Precision-rolled products p543.4 Special plates p553.5 Stainless steel tubes p554. Research & Development Policy p5550ANNUAL REPORT ARCELOR 2003
Stainless Steels, Alloys and Special Plates1. STRATEGYThe Stainless Steels sector includes the operations related to themanufacture and sale of stainless steel and nickel alloy products.Present in the world’s major markets, this sector has initiated aprocess to refocus on its core business.Arcelor is present in the global stainless steel market witha complete range of products (hot- and cold-rolled coils,precision-rolled products and long products in stainlesssteels and alloys, heavy plates and small welded tubes).Because of the great variety of products manufacturedand marketed, including a large proportion of flat products,the Arcelor Stainless Steels sector is a major supplier tothe automotive, domestic electrical appliance, generaland construction industries. By virtue of the configurationof its industrial facilities and its sales network, the StainlessSteels sector is able to assist its large customers in theirinternational expansion.2. ORGANISATION OF SECTORThe Stainless Steels sector comprises five major activities:• Stainless flat products;• Long stainless and alloy products;• Stainless steel tubes;• Precision stainless metal strips and nickel alloy flatproducts;• Special plates in stainless steels and specialty steels.All export sales of the Stainless Flat Products BusinessUnits outside their principal markets are handled byArcelor Stainless International.activities of the Group > stainless steels, alloys and special platesThe global stainless steel market currently stands at17 million tonnes per year. The market is cyclical andvery competitive, with a steady decline in sales pricesof between 2 and 3% per year.In this context, Arcelor has adopted a strategy totransform its Stainless Steels activities based on apolicy of investments, industrial reconfiguration andthe development of partnerships to allow each businessin the sector to adapt to its own special circumstancesand challenges.This policy was specifically reaffirmed in 2003 with thestated objective to make Arcelor’s flat stainless steelsa global benchmark for customer service, innovationand competitiveness, primarily through its UGINE & ALZbusiness unit.3. THE SECTOR’S PRODUCTS ANDMARKETS3.1. Stainless steel flat productsWith 6,000 employees and revenue of over 2 billioneuros, UGINE & ALZ, which specialises in stainlesssteel flat products, is the main business unit of theStainless sector. The company is one of the leaders inthe European market with a market share of more than25% and very high-performance products, notably itsbright-annealing lines at Gueugnon (France) and Genk(Belgium) dedicated to specialty markets, its LC2Icontinuous integrated cold-rolling line, at Isbergues(France), and its facilities at Genk (Belgium) for thick orextra-wide products.ANNUAL REPORT ARCELOR 200351
Page 1: ANNUAL REPORT ARCELOR 2003ANNUAL RE
Page 4 and 5: Message from the Chairman ofthe Boa
Page 6 and 7: Message from the Chairman ofthe Man
Page 8 and 9: Does this mean that the Group is en
Page 10 and 11: 8ANNUAL REPORT ARCELOR 2003
Page 12 and 13: Portrait of the GroupArcelor was bo
Page 14 and 15: The Arcelor/Nippon Steel Corporatio
Page 16 and 17: Key Figures for 2003Revenues (1) Re
Page 18 and 19: 2003 highlightsOn January 24, 2003,
Page 20 and 21: Corporate GovernanceBoard of Direct
Page 22 and 23: Report of the Chairman of the Board
Page 24 and 25: Role and authority of the Board of
Page 26 and 27: 4.2. The Audit Committee andthe App
Page 28 and 29: AuthorityThe powers of the Manageme
Page 30 and 31: B. Internal Control Procedures1. GO
Page 32 and 33: 3.3. Internal control procedures go
Page 34 and 35: Information regarding capital, mark
Page 36 and 37: Market informationListingArcelor sh
Page 38 and 39: Information policyArcelor intends t
Page 42 and 43: table of contents >Flat Carbon Stee
Page 44 and 45: Within this context, and in order t
Page 46 and 47: 3.3. Packaging steelsThe packaging
Page 48 and 49: table of contents >Long Carbon Stee
Page 50 and 51: 3. THE SECTOR’S PRODUCTS ANDMARKE
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
Page 62 and 63: Other ActivitiesThe “Other Activi
Page 66 and 67: Group Consolidated Management Repor
Page 68 and 69: Trends in global crude steel produc
Page 70 and 71: Financial highlights for the GroupI
Page 72 and 73: Return on capital employed (ROCE) b
Page 74 and 75: BUSINESS BY SECTORFlat Carbon Steel
Page 76 and 77: Even though shipments in 2003 in th
Page 78 and 79: From a financial standpoint, and ex
Page 80 and 81: The Trading and Distribution busine
Page 82 and 83: - in September 2003, the sale of th
Page 84 and 85: The market tightness provoked by th
Page 86 and 87: Risk ManagementGeneral legal risks
Page 88 and 89: Group purchasing performanceIn addi
Page 92 and 93: Implementation of the Sustainable D
Page 94 and 95: Arcelor’s principles Principal ac
Page 96 and 97: Organisation of Sustainable Develop
Page 98 and 99: indicators 2002 2003Principle 4 - O
Page 100 and 101: 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
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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
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Scientific CouncilChairman:• Marc
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Corporate governanceObjectives• E
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SponsorshipEvery year, the various
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Durability: Manufacturers are now a
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122ANNUAL REPORT ARCELOR 2003
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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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130ANNUAL REPORT ARCELOR 2003
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Consolidated financial statementsof
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CONSOLIDATED CASH FLOW STATEMENTIn
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NOTES TO THE CONSOLIDATED FINANCIAL
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Assets intended to be disposed of o
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AmortisationAmortisation is recogni
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13) EquityRepurchase of share capit
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18) Other provisionsA provision is
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The major changes in the consolidat
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NOTE 4 - INTANGIBLE ASSETSGoodwill
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NOTE 5 - PROPERTY, PLANT AND EQUIPM
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NOTE 7 - OTHER INVESTMENTSThe main
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NOTE 13 - EQUITY13.1 Issued capital
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NOTE 15 - MINORITY INTERESTSIn the
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16.6 Detail of main individual long
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17.2.2 Additional pension plansFran
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17.2.3 Leaving indemnities (continu
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18.2 Early retirement plansAn actua
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NOTE 22 - NET FINANCING RESULTIn EU
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NOTE 24 - RELATED PARTY DISCLOSURES
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The portfolio of financial instrume
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NOTE 26 - COMMITMENTS GIVEN AND REC
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27.1 Breakdown by activity (continu
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27.2 Geographical breakdown(Figures
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NOTE 29 - RECONCILIATION OF THE ARC
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Company name Consolidation Country
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Audit31, Allée Scheffer Telephone
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Annual accounts Arcelor S.A.ANNUAL
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INCOME STATEMENT FROM JANUARY 1 TO
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NOTE 3 - STATEMENT OF TANGIBLE FIXE
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NOTE 8 - PROVISIONS FOR LIABILITIES
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NOTE 14 - DIRECTORS’ REMUNERATION
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Arcelor Ordinary General Meeting on
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GlossaryAnnealing:The heat treatmen
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How steel is made?a 3-stage process
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Arcelor’s main steel-manufacturin
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NOTES210ANNUAL REPORT ARCELOR 2003
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Concept and realization133, avenue
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