ArcelorMittal logs record loss of $4B in Q4

Feb 06, 2013 | 03:43 PM | Alexandra Chapman

Tags  ArcelorMittal, European Union, Europe, Lakshmi Mittal, Steel First, Alexandra Chapman

LONDON — ArcelorMittal SA posted its largest-ever quarterly loss during the final three months of 2012 as the company’s ailing European unit continued to struggle with weak demand.

The Luxembourg-based steelmaker recorded a net loss of $3.99 billion in the fourth quarter of 2012, compared with a loss of $1 billion in the same quarter of 2011. The company’s fourth-quarter revenues fell to $19.3 billion, down nearly 14 percent year on year.....

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