Following the rejection of dissolution, ArcelorMittal Hunedoara must take steps to bring the net assets to share capital ratio within legal limits by the end of 2015, the company said in a statement to the Bucharest Stock Exchange Thursday.
At the end of last year, the company’s net assets were at RON231.13 million, while the share capital reached RON497 million.
In June, the company reported net assets worth RON236.35 million and net losses worth RON374.23 million. ArcelorMittal Hunedoara’s losses narrowed 21% to RON29.7 million in 2013, from RON37.6 million a year before. The company registered 14.6% higher turnover to RON499.6 million in 2013, from RON435.6 million a year before.
The company’s main shareholder is ArcelorMittal group, with 96.4%.
ArcelorMittal is the world’s largest steel maker. The group is led by Indian billionaire Lakshami Mittal and has steelworks and mining activities in 60 countries.
ArcelorMittal owns two steel plants in Romania, in Galati and Hunedoara, two pipe factories, in Iasi and Roman, harbor operator Romportmet Galati and the local unit of construction company ArcelorMittal Construction.