10 January 2023

ArcelorMittal Europe – Flat Products and Gonvarri Industries have signed a Memorandum of Understanding to cooperate more closely on reducing CO2 emissions and strengthening both companies’ sustainability performance in the automotive market. Gonvarri Industries is a leading company in flat steel processing with annual production of around 5 million tonnes of processed steel and is a major customer of ArcelorMittal Europe – Flat Products.

The MoU was signed by Gonvarri Industries Executive Chairman Jon Riberas and ArcelorMittal Europe – Flat Products CEO Yves Koeberle, in Madrid on 9th January 2023. The agreement focuses on the two companies working on common sustainability projects, including the use of ArcelorMittal’s XCarb^® reduced and low-carbon products, as well as identifying ways to strengthen the circular economy both within and beyond the manufacturing and purchase of steel products.

In 2020, Gonvarri Industries committed to reducing its Scope 1 CO2 emissions by 50% by 2030, as well as operating solely using renewable electricity, as part of a commitment to reducing Scope 2 emissions by 100% by 2030. The company has further committed to carbon neutrality by 2050. Gonvarri’s Carbon Neutral Plan 2030/2050 is incorporated into the company’s decision-making, business strategy, management and performance metrics.

Working with suppliers such as ArcelorMittal is part of the company’s strategy to accelerate the reduction in CO2 emissions, specifically Scope 3 emissions (indirect CO2 emissions produced in the company’s supply chain).

ArcelorMittal Europe has a target to reduce its CO2 emissions by 35% by 2030, and to reach carbon neutrality by 2050. In 2021, the company launched XCarb^®, an umbrella brand for all its low and zero-carbon initiatives. This includes XCarb^® green steel certificates, which can be purchased by customers to reduce their Scope 3 GHG emissions, and XCarb^® recycled and renewably produced – steel made using a very high proportion of steel scrap and 100% renewable electricity.

About Gonvarri

Gonvarri supplies flat steel, aluminum and steel rods to major automotive makers and is highly specialized in 3D laser cutting and development centers on high strength and hot stamping steels.
They also manufacture high-precision carbon steel tubes with the highest quality standards.

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2021, ArcelorMittal had revenues of $76.6 billion and crude steel production of 69.1 million metric tons, while iron ore production reached 50.9 million metric tons. Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. Steels made using innovative processes, which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

About XCarb^®

XCarb^® is designed to bring together all of ArcelorMittal’s reduced, low and zero-carbon products and steelmaking activities. As part of the XCarb^® brand ArcelorMittal has launched two innovative offers for our customers: XCarb^® green steel certificates for products made via the Blast Furnace route and XCarb^® renewably produced for products made via the Electric Arc Furnace route using scrap.