ArcelorMittal Ventures Into Additive Manufacturing: Launching Industrial-Scale Steel Powder Production In Spain
Portfolio Pulse from Lekha Gupta
ArcelorMittal SA (NYSE:MT) announced its entry into the additive manufacturing market as a steel powder supplier with plans to build an industrial-scale inert gas atomiser in Aviles, Spain. The facility, expected to start production in January 2024, will have an initial annual capacity of 1000 tonnes and aims to meet the high standards of the AdM industry. The company's recent Q3 FY23 earnings surpassed consensus estimates, and its shares saw a premarket increase of 2.55%.
November 15, 2023 | 11:36 am
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ArcelorMittal is expanding into additive manufacturing with a new steel powder production plant in Spain, signaling growth and innovation. The company's Q3 earnings beat expectations, which is reflected in the premarket stock price increase.
The announcement of entering the additive manufacturing market and the construction of a new production facility indicates ArcelorMittal's strategic expansion and potential for future revenue growth. Coupled with strong Q3 earnings, this news is likely to be viewed positively by investors, contributing to a short-term positive impact on the stock price.
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