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ArcelorMittal (MT) Steel For Earthquake-Resistant High-Rise

Published 05/25/2016, 09:10 PM
Updated 07/09/2023, 06:31 AM
ArcelorMittal (NYSE:MT) has been selected to supply 700 tons of steel for the construction of an earthquake-resistant luxury apartment high-rise in Manila, Philippines. The 63-storey “Imperium Tower” being built in the capital will use ArcelorMittal Europe’s Histar 460 sections steel. Steel is the most chosen material for construction in earthquake-prone areas.
Histar steel provides high resilience and strength, much needed in a country that faces hundreds of earthquakes per year, while its lightness and economical structure are agreeable with designers’ needs. The architects, CallisonRTKL, have also designed a pool and fitness facilities, a recreational centre and mini theatre in the tower to be situated in one of the world’s most severe seismic zones. The steel to be used meets the safety and sustainability criteria to build this high-rise.
ArcelorMittal will be providing the steel for a building set to become a landmark in the Capital Commons area, boasting angled windows to ensure a clear view of the horizon. The building is due to be completed in 2018. The technology, to ensure the building is earthquake-resistant, comes from a Seattle, WA-based structural engineering firm, Magnusson Klemencic Associates (MKA).
MKA uses performance-based seismic design (PBSD) for construction in highly seismic zones. Using PBSD and a non-linear modeling technique in simulations has helped builders gauge the performance of a structure under different earthquake magnitudes. MKA’s PBSD method reduces challenges and provides architects with more space and freedom to design an efficient building. MKA has already constructed 67 buildings using this system.
The strength of the building based on the design and architectural technology is enhanced with the use of Histar steel. The building’s central concrete core is connected to perimeter columns via rolled Histar steel shapes. The featured rolled shape of the steel reduces the column size by almost half, providing a greater ratio of usable floor space per unit, while also lowering other costs.
ArcelorMittal, the world’s leading integrating steel and mining company, has previously provided steel for the construction of a number of landmark buildings, including the Burj Khalifa in Dubai, currently the world’s tallest building. The company also supplied all the steel used for building Harmony of the Seas, the world’s largest cruise ship.
ArcelorMittal recorded a wider year-over-year adjusted loss of 10 cents per share in first-quarter 2016. Revenues plunged 21.7% year over year to $13,399 million in the quarter. Both the top and bottom lines missed the Zacks Consensus Estimate. The European segment of the company saw production as well as sales volume reduce year over year, but increase sequentially from fourth-quarter 2015.
The company’s shares rose roughly 2.5% in the trading session on Tuesday, closing the day at $4.35.
ArcelorMittal currently holds a Zacks Rank #2 (Buy).
Some other well-ranked companies in the steel producers space include Ryerson Holding Corporation (NYSE:RYI) , sporting a Zacks Rank #1 (Strong Buy), along with Universal Stainless & Alloy Products Inc. (NASDAQ:USAP) and POSCO (NYSE:PKX) , both carrying a Zacks Rank #2.
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POSCO-ADR (PKX): Free Stock Analysis Report

ARCELOR MITTAL (MT): Free Stock Analysis Report

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RYERSON HOLDING (RYI): Free Stock Analysis Report

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