# Arcelor Created (18 February 2002)

URL: https://allhistories.com/luxembourg/timeline/2002-arcelor-created
Location: Luxembourg City, Luxembourg
Themes: Key Events

ARBED (Aciéries Réunies de Burbach-Eich-Dudelange), founded in 1911, had been Luxembourg's largest employer for most of the twentieth century and had expanded abroad, acquiring a major stake in the Spanish producer Aceralia and building a strong presence in Belgium, Germany and Brazil. Global overcapacity and the consolidation of the steel industry pushed European producers towards larger alliances at the turn of the millennium. In 2001 ARBED, Usinor and Aceralia announced their merger, and Arcelor was officially formed on 18 February 2002. With annual production of some 45 million tonnes, the new group became the world's largest steel producer by output, employing around 100,000 people. Its headquarters were established in the historic ARBED building on the Avenue de la Liberté in Luxembourg City, and the Luxembourg state remained a significant shareholder. The creation of Arcelor ensured that Luxembourg remained the decision-making centre of a major industrial group even as steel's share of the national economy fell. Only four years later, however, Arcelor became the target of a hostile takeover by Mittal Steel, which led to the creation of ArcelorMittal in 2006.

## Why it matters
Arcelor kept a global steel giant's headquarters in Luxembourg as the country's economy shifted towards services.

Ruler at the Time: [Henri](https://allhistories.com/luxembourg/rulers/henri)

Prime Minister of Luxembourg: Jean-Claude Juncker (Christian Social People's Party (CSV))

## Sources
- [Wikipedia — Arcelor](https://en.wikipedia.org/wiki/Arcelor)
- [Luxembourg.public.lu — official portal](https://luxembourg.public.lu/en.html)
- [ArcelorMittal Luxembourg](https://luxembourg.arcelormittal.com/)
- [Wikipedia — Modern Luxembourg (period overview)](https://en.wikipedia.org/wiki/Luxembourg)