Mittal Steel, whose recent $22.3 billion bid for Arcelor was rejected, has announced a 28.4 per cent drop in annual profits.
The company reported net income of $3.365 billion in 2005, compared with $4.7 billion in 2004, blaming the slide on rising costs and a number of acquisitions and reorganisations.
However, the Anglo-Dutch company showed an upturn in the last quarter of 2005, with net profits rising 36 per cent to $7.05 billion.
Chairman and CEO Lakshmi N. Mittal said that Europe needs a stronger steel sector to compete with
Study finds adverse impact of bio materials on earthworms
Try to solve one problem and several more occur! Whatever we do harms something somewhere.