DOCSLIB.ORG

Annual Report 2019 Contains a Full Overview of Its Corporate Stakeholder Expectations As Well As Long-Term Trends Governance Practices

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2019 Contains a Full Overview of Its Corporate Stakeholder Expectations As Well As Long-Term Trends Governance Practices Table of Contents Management report Company overview 4 Business overview 5 Disclosures about market risk 44 Group organizational structure 47 Key transactions and events in 2019 50 Recent developments 53 Research and development 54 Sustainable development 57 Corporate governance 67 Luxembourg takeover law disclosure 108 Additional information 110 Chief executive officer and chief financial officer’s responsibility statement 115 Financial statements of ArcelorMittal parent company for the year ended December 31, 2019 116 Statements of financial position 117 Statements of operations and statements of other comprehensive income 118 Statements of changes in equity 119 Statements of cash flows 120 Notes to the financial statements 121 Report of the réviseur d’entreprises agréé 170 4 Management report Company overview other countries, such as Kazakhstan, South Africa and Ukraine. In addition, ArcelorMittal’s sales of steel products History and development of the Company are spread over both developed and developing markets, which have different consumption characteristics. ArcelorMittal is the world’s leading integrated steel and ArcelorMittal’s mining operations, present in North and mining company. It results from the merger in 2007 of its South America, Africa, Europe and the CIS region, are predecessor companies Mittal Steel Company N.V. and integrated with its global steel-making facilities and are Arcelor, each of which had grown through acquisitions over important producers of iron ore and coal in their own right. many years. Since its creation ArcelorMittal has experienced periods of external growth as well consolidation Products: ArcelorMittal produces a broad range of high- and deleveraging (including through divestments), the latter quality finished and semi-finished steel products (“semis”). in particular during the years following the global financial Specifically, ArcelorMittal produces flat steel products, and economic crises of 2008-2010. In recent years including sheet and plate, and long steel products, including ArcelorMittal has punctuated its overall deleveraging focus bars, rods and structural shapes. In addition, ArcelorMittal with targeted acquisitions. These have included the produces pipes and tubes for various applications. acquisition through a joint venture of the Calvert plant in the ArcelorMittal sells its steel products primarily in local United States in 2014 and, in 2018 the acquisition of AMSF markets and through its centralized marketing organization in Brazil and ArcelorMittal Italia in Italy, Europe's largest to a diverse range of customers in approximately 160 single steel site. In 2019, the Company completed its countries including the automotive, appliance, engineering, acquisition of AMNS India through a joint venture with NSC. construction and machinery industries. The Company also For more information on the key transactions carried out in produces various types of mining products including iron ore 2019, see “—Key transactions and events in 2019” below. lump, fines, concentrate and sinter feed, as well as coking, PCI and thermal coal. ArcelorMittal's success is built on its core values of sustainability, quality and leadership and the entrepreneurial As a global steel producer, the Company is able to meet the boldness that has empowered its emergence as the first needs of different markets. Steel consumption and product truly global steel and mining company. Acknowledging that a requirements clearly differ between developed markets and combination of structural issues and macroeconomic developing markets. Steel consumption in developed conditions will continue to challenge returns in its sector, the economies is weighted towards flat products and a higher Company has adapted its footprint to the new demand value-added mix, while developing markets utilize a higher realities, redoubled its efforts to control costs and proportion of long products and commodity grades. To meet repositioned its operations with a view toward outperforming these diverse needs, the Company maintains a high degree its competitors. ArcelorMittal’s research and development of product diversification and seeks opportunities to capability is strong and includes several major research increase the proportion of higher value-added products in its centers as well as strong academic partnerships with product mix. universities and other scientific bodies. Automotive focus: ArcelorMittal has a leading market share Against this backdrop, ArcelorMittal's strategy is to leverage in its core markets in the automotive steel business and is a four distinctive attributes that will enable it to capture leading leader in the fast-growing advanced high strength steels positions in the most attractive areas of the steel industry’s segment. ArcelorMittal is the first steel company in the world value chain, from mining at one end to distribution and first- to embed its own engineers within an automotive customer stage processing at the other: global scale and scope; to provide engineering support. The Company begins superior technical capabilities; a diverse portfolio of steel working with original equipment manufacturers (“OEMs”) as and related businesses, one of which is mining; and early as five years before a vehicle reaches the showroom, financial capabilities. to provide generic steel solutions, co-engineering and help with the industrialization of the project. In November 2016, Geography: ArcelorMittal is the largest steel producer in the ArcelorMittal introduced a new generation of advanced high Americas, Africa and Europe and is the fifth largest steel strength steels, including new press hardenable steels and producer in the CIS region. ArcelorMittal has steel-making martensitic steels. Together, these new steel grades aim to operations in 18 countries on four continents, including 46 help automakers further reduce body-in-white weight to integrated and mini-mill steel-making facilities. As of improve fuel economy without compromising vehicle safety December 31, 2019, ArcelorMittal had approximately or performance. In November 2017, ArcelorMittal launched 191,000 employees. the second generation of its iCARe® electrical steels. ArcelorMittal’s steel-making operations have a high degree iCARe® steel grades play a central role in the construction of geographic diversification. Approximately 37% of its crude of electric motors. steel is produced in the Americas, approximately 49% is Mining Value Chain: ArcelorMittal has a significant portfolio produced in Europe and approximately 14% is produced in of raw material and mining assets. In 2019, approximately Management report 5 52% of ArcelorMittal’s iron-ore requirements and such forward-looking statements is included in the section approximately 12% of its PCI and coal requirements were titled “Risk related to the global economy and the mining supplied from its own mines. The Company currently has and steel industry”. The Company undertakes no obligation iron ore mining activities in Brazil, Bosnia, Canada, to update or revise publicly any forward-looking statements Kazakhstan, Liberia, Mexico, Ukraine and the United States. whether because of new information, future events, or The Company currently has coal mining activities in otherwise, except as required by securities and other Kazakhstan and the United States. applicable laws. In addition, ArcelorMittal produces substantial amounts of Corporate and other information direct reduced iron, or DRI, which is a scrap substitute used in its mini-mill facilities to supplement external metallics ArcelorMittal is a public limited liability company (société purchases. ArcelorMittal is also a significant producer of anonyme) that was incorporated for an unlimited period coke, which is produced from metallurgical coal and is a under the laws of the Grand Duchy of Luxembourg on critical raw material for steel-making, satisfying 95% of its June 8, 2001. ArcelorMittal is registered at the R.C.S. coke needs through its own production facilities. Luxembourg under number B 82.454. ArcelorMittal’s facilities have good access to shipping The mailing address and telephone number of facilities, including through ArcelorMittal’s own, or partially ArcelorMittal’s registered office are: owned, 15 deep-water port facilities and linked railway sidings. ArcelorMittal ArcelorMittal has its own downstream steel distribution 24-26, Boulevard d’Avranches business, primarily run through its Europe segment. It also L-1160 Luxembourg provides value-added and customized steel solutions Grand Duchy of Luxembourg through additional processing activities to meet specific Telephone: +352 4792-1 customer requirements. ArcelorMittal’s agent for U.S. federal securities law Cautionary statement regarding forward-looking purposes is: statements This annual report and the documents incorporated by ArcelorMittal USA LLC reference in this annual report contain forward-looking 1 South Dearborn Street, 19th floor statements based on estimates and assumptions. This Chicago, Illinois 60603 annual report contains forward-looking statements within the United States of America Telephone: + 1 312 899-3985 meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among other Internet site things, statements concerning the business, future financial condition, results of operations and prospects of ArcelorMittal maintains an Internet site at ArcelorMittal, including its subsidiaries. These statements www.arcelormittal.com. Information
Load more

Recommended publications
  • Arcelormittal Is Again Counting on the Strengths of the AUMUND Drag Chain Conveyor Type LOUISE São Paulo, Brazil, April 2017
    Press Information ArcelorMittal is again counting on the strengths of the AUMUND Drag Chain Conveyor Type LOUISE São Paulo, Brazil, April 2017 The steel maker ArcelorMittal is building on proven solutions and reliable partners in Brazil. About 20 years ago, a shock-pressure-proof drag chain conveyor was ordered for Brazil from LOUISE Fördertechnik before this company was acquired by AUMUND Fördertechnik GmbH, and now AUMUND has won an order for another drag chain conveyor type LOUISE TKF. The shock-pressure-proof design of its predecessor was no longer required for the new model because of the change in classification of the plant segment. The dispatch of the machine is planned for June 2017. 1998: AUMUND Drag Chain Conveyor, type LOUISE TKF, in ArcelorMittal’s João Monlevade plant in Brazil (photo AUMUND) The earlier model drag chain conveyor was ordered in 1998 by the then Brazilian arm of the Luxemburg steel company Arbed, CSBM, Companhia Siderurgica Belgo Mineira. Arcelor was created by the merger of Aceralia and Usinor and merged with Mittal in 2006 to become ArcelorMittal, the world’s leading steel concern. Press Information Around fifteen years ago, AUMUND Fördertechnik GmbH integrated the products of the LOUISE subsidiary into its own portfolio. This double strand drag chain conveyor with a capacity of 3 kW, a centre distance of 10.4 m and a performance of 25 t/h, will be used for bunker extraction. The previous machine proved its durability in an interesting way. One of the supports of a weighing cell collapsed and caused one side of the silo to subside.
    [Show full text]
  • Biodiversity and Ecosystem Services Scaling up Business Solutions
    business solutions for a sustainable world Biodiversity and ecosystem services scaling up business solutions Company case studies that help achieve global biodiversity targets Contents Scale up, speed up and put the sound up ....... 2 15 PUMA – The Environmental Profi t & Loss Account..........................................................................................................................36 Business, biodiversity and ecosystem 16 Reliance Industries – Converting Wastelands to services in a nutshell ........................................................................... 3 Green Oases ..............................................................................................................40 17 Rio Tinto – Achieving the Goal of Net Positive Impact What are the Aichi Targets? .................................................... 4 on Biodiversity ........................................................................................................42 On the ground business actions ...................................... 6 18 Shell – Corrib Paves the Way – A Response that Bears Re-Peating ...................................................................................................................44 Case Studies ....................................................................................................... 8 19 Suncor Energy – Oil Sands Reclamation 1 ArcelorMittal – Mining in Liberia – Conserving Progress .........................................................................................................................46
    [Show full text]
  • Order 1 Purchase 2 Sale
    Form to be sent to: ORDER 1 BNP Paribas Securities Services AIRBUS GROUP Securities Department Les Grands Moulins de Pantin 9, rue du Débarcadère 93761 PANTIN CEDEX - FRANCE 2 PURCHASE SALE Tel. : +33 1 57 43 35 00 Fax: +33 1 57 43 01 54 Confirmation of the order dated .… / … / ……. made by phone 3 DD/MM/YYYY I the undersigned, Mr. / Mrs. / Ms. Last name First name(s) (Strike out as appropriate) (For legal persons: name of signatory) (For legal persons: first name of signatory) Company name SIREN (For legal persons) Date and place of at Phone birth (DD/MM/YYYY) (Mandatory) Account number Residing at Town Post code Country Tax address (if different only) give instructions to BNP Paribas Securities Services to transmit the following order: Stock AIRBUS GROUP ISIN Code NL0000235190 Number of shares (In words) (In figures) i1 Type of order At market price Limit order at ________________________ EUR (Specify the maximum purchase price or minimum sale price) Validity of order (maximum end of month): __________________________ Account details to be credited by wire: Name of the account holder Bank’s name Bank address Country Account currency In France: Code Banque Code Guichet Numéro de compte Clé RIB In other countries4: BIC Code IBAN ABA Code BSB Code Bank Code Branch Code Bank account For payment to an account using an IBAN / BIC code, please specify the payment currency in which the account is held: ……………………………… Documents to be supplied for a sale order 5: a Bank Account identity (RIB), Postal Account identity (RIP), Savings Account identity (RICE) or IBAN number for payment by transfer of the proceeds of the sale of shares, after deduction of brokerage fees, taxes and commissions.
    [Show full text]
  • Pump Product Catalog
    Pump Division Pump Product Catalog Experience In Motion Pump Supplier to the World Flowserve is the driving force in the global Product Brands of Distinction industrial pump marketplace. No other pump ACEC™ Centrifugal Pumps company in the world has the depth or breadth of expertise in the successful application of Aldrich™ Pumps pre-engineered, engineered, and special purpose Byron Jackson ® Pumps pumps and systems. Calder™ Energy Recovery Devices Cameron™ Pumps Durco ® Process Pumps Flowserve ® Pumps IDP ® Pumps INNOMAG ® Sealless Pumps Lawrence Pumps ® Niigata Worthington™ Pumps Pacific ® Pumps Pleuger ® Pumps Scienco™ Pumps Sier-Bath ® Rotary Pumps TKL™ Pumps United Centrifugal ® Pumps Western Land Roller™ Irrigation Pumps Wilson-Snyder ® Pumps Worthington ® Pumps 2 Worthington Simpson™ Pumps flowserve.com Pump Designs Flowserve offers a wide range of complementary pump types, built to recognized global standards Committed to the Complete Pump and customer specification. These include: System Life Cycle • Single-stage process • Between bearings single-stage For more than two centuries, Flowserve has • Between bearings multistage served industries requiring solutions that add value and reduce costs throughout the life • Vertical cycle of a pumping system. • Submersible motor • Oil and gas • Positive displacement • Chemical • Nuclear • Power generation • Specialty • Water Available Configurations • General industry Flowserve partners • Sealed and sealless with customers to • Axially and radially split respond to the • Volute and diffuser dynamic business • Close coupled and spacer coupled conditions that • Single and double case affect them and to improve efficiency, maximize throughput and control process quality. Whether customer needs involve on-site technical assistance, equipment upgrades or broader project planning with full turnkey responsibility, Flowserve delivers professional, reliable results.
    [Show full text]
  • Airbus Corporate Jets Wins First Six ACJ Twotwenty Orders
    Airbus Corporate Jets wins first six ACJ TwoTwenty orders #ACJTwoTwenty #ACJ #COMLUX Toulouse, 6 October 2020 - Airbus Corporate Jets has won its first orders for the ACJ TwoTwenty totalling six aircraft following its launch. While Comlux has revealed an order for two aircraft, four further jets were ordered by undisclosed customers. Entry into service of the first ACJ TwoTwenty by Comlux Aviation is targeted for early 2023. The new ACJ TwoTwenty will feature a high end VIP cabin interior, supported by a flexible cabin catalogue, from which Comlux has selected the business and guest lounge as well as a private entertainment space and a private suite, including a bathroom. The cabin, set to “Reimagine your place in the sky...” will be equipped with large full lie flat seats, a US-king size bed, a standing rainshower, a humidifying system for well-being on board and leading edge connectivity. “We are proud to be the launch customer of the Airbus’ newest family member, the ACJ TwoTwenty and the selected partner to outfit the cabin in our completion center in Indianapolis. We have worked jointly with ACJ and shared our long experience in operating and completing all types of aircraft, to allow the new Bizjet to offer more comfort and the latest cabin innovations available in the industry, “ said Richard Gaona, Executive Chairman & CEO Comlux. “Thanks to the unique combination of intercontinental range, comfort, extra space and second-to-none economics, we are convinced the aircraft will be a winner in the business aviation market.” “We are honoured to see our longstanding client Comlux becoming the launch customer of our new ACJ TwoTwenty as well as our cabin completion partner on the programme, “ said Benoit Defforge, President ACJ.
    [Show full text]
  • China Fully Committed to Debt Relief Plans Of
    BUSINESS CHINA DAILY HONG KONG EDITION Friday, October 30, 2020 Airbus to China fully start A350 deliveries committed to from debt relief Tianjin By ZHU WENQIAN [email protected] European aircraft manufac- turer Airbus said on Thursday plans of G20 that it is expected to deliver widebody A350 aircraft from its completion and delivery center Measures to ease burden of poor nations in Tianjin from the first quarter of next year. and boost sustainable development An aerial view shows volunteers posing amid the decorations at the National Exhibition and Con- The Airbus Tianjin widebody vention Center in Shanghai, the venue for the 3rd CIIE. GAO ERQIANG / CHINA DAILY completion and delivery center, By CHEN JIA global fiscal stimulus packages may the company’s first widebody [email protected] have achieved $12 trillion, and the completion and delivery center average deficit ratio is projected to outside Europe, is gradually China is implementing the debt increase by 9 percentage points Livestreaming to enhance value of CIIE shifting its work, including cabin relief plans promoted by the Group from last year. installation and aircraft paint- of 20 to help ease the debt burden of G20 finance ministers and cen- ing, to A350XWB. poor countries and achieve sustain- tral bank governors agreed to By HE WEI in Shanghai taining to say,” he said. fray, amid an army of online influ- “At the beginning, the delivery able development during the novel extend the Debt Service Suspen- [email protected] Apart from introducing new encers. Spectators are also antici- rate of A350 from Tianjin won’t coronavirus epidemic, a senior gov- sion Initiative by six months at a brands and products to the Chi- pated to converse virtually with be too fast, and we plan to gradu- ernment official said.
    [Show full text]
  • The Modern Brazilian Steel Industry
    THE MODERN BRAZILIAN STEEL INDUSTRY By Professor Celso Lafer* *Minister of Foreign Relations Notwithstanding the importance of pioneer initiatives by the first generation of Brazilian industrialists, the foundation and growth of the modern steel industry in Brazil was made, in great part, by the state. Steel symbolized industrialization which, for many decades, was synonymous with progress. The government realized, correctly, that having vast reserves of iron ore, Brazil could aspire to a significant steel industry. And it acted on this belief, creating the industry during the Getúlio Vargas administration and promoting its growth during the decades of 1960 and 1970. The predominantly state model that was necessary at the industry’s inception had some success cases. Without the government’s action in the 1930s and 1940s, Brazil would probably not have developed a robust steel-producing base. During the following decades Brazil positioned itself among the main producers and exporters of steel in the world. The state model came to an end, as happened in other sectors, when the government management crisis brought to the surface unsustainable inefficiencies and weaknesses of the productive segment. During the 1990s the steel sector experienced a great transformation. In three years, between 1991 and 1993, all of the state steel industry was privatized through public bidding, and massive investment began to modernize it. In 1998 alone more funds were invested than the sum of monies invested during the 5-year period 1989-1994. In total, between 1994 and 2000, the new steel mill owners invested US$ 10.2 billion in modernization, upgrading, cost reduction and environmental protection works.
    [Show full text]
  • Core Strengths, Sustainable Returns
    Core strengths, sustainable returns Annual Report 2011 With revenues of $94 billion and crude steel production of 91.9 million tonnes, ArcelorMittal is the world’s leading steel and mining company, with a presence in more than 60 countries. Through our core values of sustainability, quality and leadership, we commit to operating in a responsible way with respect to the health, safety and well-being of our employees, contractors and the communities in which we operate. The theme for this year’s annual report is ‘core strengths, sustainable returns’. We believe consistency is crucial in a fast-changing world. And at the heart of this belief is a consistent strategy that focuses on our five core strengths. By continually focusing on these strengths throughout our operations, ArcelorMittal can deliver sustainable returns. Cover image Port-Cartier, Canada Global presence ArcelorMittal is the world’s leading steel and mining company. With a presence in more than 60 countries, we operate a balanced portfolio of cost competitive steel plants across both the developed and developing world. We are the leader in all the main sectors – automotive, household appliances, packaging and construction. We are also the world’s fourth largest producer of iron ore, with a global portfolio of 16 operating units with mines in operation or development. In 2011, we employed around 261,000 people. Flat Carbon Long Carbon Belgium France Mexico US Algeria Germany Charleroi Basse Indre Lázaro Cárdenas Burns Harbor, IN Annaba Duisburg Ghent Châteauneuf Cleveland, OH
    [Show full text]
  • Euro Stoxx 50® Index
    MARKET-LINKED PRODUCTS UNDERLIER: EURO STOXX 50® INDEX Market-Linked Products, considered complex investments, are linked to the performance of an underlying asset, such as the EURO STOXX 50® Index (“Index”). Dividends paid on the underlier are not passed through to the Market- Linked Product. If held to maturity, any potential coupon payments or gains will be paid out based on the performance of the Index, as detailed in the offering documents. Additionally, your statement value will reflect any upward or downward movements in the volatility of the Index. ® EURO STOXX 50 Index – Historical Look at Gains & Losses The chart below illustrates the number of times the Index’s return, measured from the beginning to the end of different time periods within the past 20 years, landed within various return ranges. Total Rolling Total Total 0 to -6 to -11 to -16 to -21 to -26 to -31 to -36 to 0% to 11 to 21 to 31 to Periods Gains Losses -5% -10% -15% -20% -25% -30% -35% -40% < -40% 10% 20% 30% 40% > 40% 1-Yr 229 131 98 16 17 14 16 11 7 4 5 8 46 63 16 5 1 3-Yr 205 113 92 14 11 10 11 9 7 13 10 7 31 29 10 10 33 5-Yr 181 105 76 10 6 9 11 13 9 1 1 16 25 20 15 23 22 7-Yr 157 89 68 5 4 5 8 11 24 7 2 2 26 17 17 15 14 10-Yr 121 65 56 3 6 4 9 15 1 8 9 1 16 23 14 7 5 The chart below illustrates the percentage of times1 (based on total rolling periods) the Index’s return, measured from the beginning to the end of different time periods within the past 20 years, landed within various return ranges.
    [Show full text]
  • France Fund A-Euro for Investment Professionals Only FIDELITY FUNDS MONTHLY PROFESSIONAL FACTSHEET FRANCE FUND A-EURO 31 AUGUST 2021
    pro.en.xx.20210831.LU0048579410.pdf France Fund A-Euro For Investment Professionals Only FIDELITY FUNDS MONTHLY PROFESSIONAL FACTSHEET FRANCE FUND A-EURO 31 AUGUST 2021 Strategy Fund Facts Bertrand Puiffe uses an unconstrained approach to portfolio construction, investing in Launch date: 01.10.90 companies based on their merits and not taking into account their prominence in the Portfolio manager: Bertrand Puiffe index. He takes a long-term view that allows him to benefit from market inefficiencies Appointed to fund: 01.09.17 created by the shorter-term time horizon of other investors. Bertrand has a very Years at Fidelity: 15 disciplined investment process based on systematic scoring of companies on Fund size: €64m qualitative and quantitative factors. He typically invests in three types of companies: Number of positions in fund*: 35 turnaround stories, special situations and where the market underestimates how strong, Fund reference currency: Euro (EUR) and for how long, growth can be sustained. Bertrand has a disciplined approach to risk Fund domicile: Luxembourg management at the stock level and during the portfolio construction process. Fund legal structure: SICAV Management company: FIL Investment Management (Luxembourg) S.A. Capital guarantee: No Portfolio Turnover Cost (PTC): 0.02% Portfolio Turnover Rate (PTR): 21.73% *A definition of positions can be found on page 3 of this factsheet in the section titled “How data is calculated and presented.” Objectives & Investment Policy Share Class Facts • The fund aims to provide long-term capital growth with the level of income expected Other share classes may be available. Please refer to the prospectus for more details.
    [Show full text]
  • Case No COMP/M.3334 Œ ARCELOR/ THYSSENKRUPP/ STEEL24-7
    Case No COMP/M.3334 – ARCELOR/ THYSSENKRUPP/ STEEL24-7 Only the English text is available and authentic. REGULATION (EEC) No 4064/89 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 16/02/2004 Also available in the CELEX database Document No 304M3334 Office for Official Publications of the European Communities L-2985 Luxembourg COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 16.02.2004 SG-Greffe(2004) D/200619/200620 In the published version of this decision, PUBLIC VERSION some information has been omitted pursuant to Article 17(2) of Council Regulation (EEC) No 4064/89 concerning non-disclosure of business secrets and MERGER PROCEDURE other confidential information. The omissions are shown thus […]. Where ARTICLE 6(1)(b) DECISION possible the information omitted has been replaced by ranges of figures or a general description. To the notifying parties : Dear Sir/Madam, Subject: Case No COMP/M.3334 Arcelor/Thyssenkrupp/Steel 24-7 Notification of 14 January 2004 pursuant to Article 4 of Council Regulation No 4064/89 1. On January 14, 2004, the Commission received a notification pursuant to Article 4 of Regulation (EEC) No 4064/891 as last amended by Regulation (EC) No 1310/972 (“the Merger Regulation”) of a proposed concentration by which ThyssenKrupp AG (“ThyssenKrupp”) acquires an additional 25% of the share capital in the existing Joint Venture Steel 24-7. After completion of the transaction, ThyssenKrupp and Arcelor SA (“Arcelor”) will each own 50% of the shares in Steel 24-7. The companies will have joint control over Steel 24-7 within the meaning of Article 3(1) (b) of the Merger Regulation.
    [Show full text]
  • Green Brand of Companies and Greenwashing Under Sustainable Development Goals
    sustainability Article Green Brand of Companies and Greenwashing under Sustainable Development Goals Tetyana Pimonenko 1, Yuriy Bilan 2,* , Jakub Horák 3 , Liudmyla Starchenko 4 and Waldemar Gajda 5 1 Department of Marketing, Sumy State University, 40007 Sumy, Ukraine; [email protected] 2 Faculty of Management, University of Social Sciences, 90–113 Lodz, Poland 3 School of Expertness and Valuation, The Institute of Technology and Business in Ceskˇ é Budˇejovice, Okružní 517/10, 37001 Ceskˇ é Budˇejovice,Czech Republic; [email protected] 4 Department of Economics, Entrepreneurship and Business Administration, Sumy State University, 40007 Sumy, Ukraine; [email protected] 5 Warsaw Management School-Graduate and Postgraduate School, Siedmiogrodzka 3A, 01204 Warszawa, Poland; [email protected] * Correspondence: [email protected] Received: 15 January 2020; Accepted: 21 February 2020; Published: 24 February 2020 Abstract: Implementing Sustainable Development Goals (SDGs) and increasing environmental issues provokes changes in consumers’ and stakeholders’ behavior. Thus, stakeholders try to invest in green companies and projects; consumers prefer to buy eco-friendly products instead of traditional ones; and consumers and investors refuse to deal with unfair green companies. In this case, the companies should quickly adapt their strategy corresponding to the new trend of transformation from overconsumption to green consumption. This process leads to increasing the frequency of using greenwashing as an unfair marketing instrument to promote the company’s green achievements. Such companies’ behavior leads to a decrease in trust in the company’s green brand from the green investors. Thus, the aim of the study is to check the impact of greenwashing on companies’ green brand.
    [Show full text]