Economics

ArcelorMittal posts $1 billion loss

Several large charges for taxes and restructuring pushed ArcelorMittal into a deep loss in the fourth quarter and the steel maker warned Tuesday that concerns over Europe's economy had hit demand.

14.03.2012

(AP) Several large charges for taxes and restructuring pushed ArcelorMittal into a deep loss in the fourth quarter and the steel maker warned Tuesday that concerns over Europe's economy had hit demand.

ArcelorMittal posted a $1 billion net loss in the fourth quarter, compared to a $780 million loss in the same quarter of 2010. In the third quarter of 2011, it reported a profit of $659 million.