ArcelorMittal Ghent

ArcelorMittal Ghent is a Belgian steelworks situated in Zelzate nr. Ghent, Flanders. It was founded in 1962 by ARBED as Sidmar; the first maritime steel producer in Belgium.HistoryBackgroundTraditionally the steelworks of Belgium had been concentrated in the southern half of the country, in Wallonia, close to the historic coal mining areas at the edge of the Rhenish Massif; which in part defined the area that came to be known as the Sillon industriel including the regions of Liege and Hainaut.In the 1920s the Luxembourg-based steel company ARBED began buying land next to the Ghent–Terneuzen Canal, by 1932 the company had acquired 211ha Economic depression in the 1930s, the second world war and its aftermath prevented plans for a new steel plant;. however by the 1950s the economic conditions had become favourable again, and the company began exploring the possibility of a plants' construction.At the beginning of the 1960s preliminary work began towards the construction of a new plant; the canal was to be dredged to enable Panamax size ships to use the canal, Arbed's land holding increased to 211ha, and on 27 April 1962 the European Coal and Steel Community approved the plants construction. The company Siderurgie Maritime NV (Sidmar) was formed on 10 July 1962, with a capital of 4.5billion Belgian franc, of which 2bn came from Arbed, as well as 1bn from Cockerill-Sambre. Schneider, the Société Générale de Belgique, Compagnie Belge de Participations (COBEPA) and Compagnie Financière et Industrielle (COFININDUS) also backed the scheme, and loans were got from state banks.