ARCELORMITTAL SOUTH AFRICA LIMITED - Conclusion of pricing principles following settlement with the Competition Commission

Conclusion of pricing principles following settlement with the Competition Commission

ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share Code: ACL
ISIN: ZAE000134961
(ArcelorMittal South Africa or “the Company”)


CONCLUSION OF PRICING PRINCIPLES FOLLOWING SETTLEMENT WITH
THE COMPETITION COMMISSION


In the SENS announcement released on 10 February 2017
shareholders were advised that the Fair Pricing Principles
for flat steel products had been finalised and was
implemented by the company, but remains subject to final
government approval.


The company is pleased to advise that the Fair Pricing
Principles have been approved by government and the
agreement in this regard between the company and
government has been signed by the Department of Trade and
Industry and Department of Economic Development. In terms
thereof the price for flat steel products will be based on
an import weighted basket price. Quarterly monitoring of
the import weighted basket, and compliance with the
pricing mechanism for all flat steel products will be the
responsibility of the steel task team comprising of
government, the primary and downstream industry, under the
auspices of the International Trade Administration
Commission (ITAC).


In the light of the agreement, the steel industry and in
particular the downstream will benefit from the pricing of
flat steel products.
This brings to an end another matter that has been the
subject of engagement with government over prolonged
period.


This agreement and the commitment by government and the
company will no doubt make a valuable contribution to the
sustainability of the steel industry, and in particular,
the downstream industry.

By order of the Board

17 February 2017
Vanderbijlpark Works


Sponsor to ArcelorMittal South Africa Limited
J.P. Morgan Equities South Africa Pty Ltd


For further information please contact:
Themba Sepotokele
Manager: Corporate Communications and Branding
Tel: (016) 889 2425

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