ARRD ArcelorMittal

The VELUX Group has entered a 10-year agreement with ArcelorMittal concerning the supply of recycled and renewably produced steel.

In 2023, the two companies agreed to enter a partnership to lower the carbon footprint of the steels used in VELUX roof windows by up to 70 percent, compared with conventionally produced steel. This co-operation involved the testing and validation of ArcelorMittal’s XCarb® recycled and renewably produced steel and its performance in VELUX roof window hinges and installation brackets.

Successful results have now culminated in the signing of this 10-year commercial agreement which outlines a framework for steel supply. VELUX is now gradually increasing order intake so that by 2025, XCarb® will be used in several steel components for VELUX roof windows, replacing the conventionally produced steel that was previously used.

“Steel is an important material to ensure the strength and durability of our products and traditionally it’s a significant contributor to our carbon emissions,” says Jesús Villalba, Senior Director, Direct Procurement at VELUX Group. “We are pleased to be reducing its impact through this agreement, which proves that through co-engineering and collaboration with our suppliers, we can reduce our value chain emissions.”

Metals (excluding aluminium), of which steel constitutes the main part, accounts for 5.7 percent of the VELUX Group’s total scope 3 emissions.

XCarb® is manufactured with a minimum of 75% recycled steel and by using 100% renewable electricity. An electric arc furnace powered by renewable energy sources is used to manufacture XCarb® at an ArcelorMittal production facility in Northern Spain. Investigations are underway to work on further reductions of the carbon footprint of the steel delivered by ArcelorMittal to VELUX.

“The long-term agreement between our companies sends a powerful message about the importance of steel in the decarbonisation of the everyday materials that we all use. I would like to thank VELUX for their partnership on this project, and for their leadership in committing to use low carbon-emissions steel for their products” said Laurent Plasman, CMO Industry, ArcelorMittal Europe – Flat Products.

Steel is one of several key materials VELUX Group is investigating together with its suppliers to help achieve reductions in its product and overall carbon footprint. The VELUX target is to reduce its scope 3 upstream emissions by 50% by 2030.

About the VELUX Group
VELUX roof windows have been bringing daylight and fresh air into peoples’ homes around the world for more than 80 years, creating better living environments. We offer a range of products including roof windows and modular skylights, decorative blinds, sun screening products, and roller shutters, as well as installation and smart home solutions. They help create bright, healthy, and energy-efficient places for people who live, work, learn, and play under the roof. We work globally – with sales and manufacturing operations in 37 countries and around 11,900 employees worldwide. The VELUX Group is owned by VKR Holding A/S, a limited company owned by the Villum Foundation and Kann Rasmussen family members. In 2023, the VELUX Group had a total revenue of EUR 2.91 billion while VKR Holding had a total revenue of EUR 3.97 billion. The same year, the Villum Foundation and the VELUX FOUNDATION donated a total of EUR 184.6 million in charitable grants.

For more information about the VELUX Group, visit velux.com

About ArcelorMittal

ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2023 generated revenues of $68.3 billion, produced 58.1 million metric tonnes of crude steel and, 42.0 million tonnes of iron ore. Our purpose is to produce smarter steels 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 the 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. 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).

Contact:
Yvette Roper
Senior Global Media Relations Manager, the VELUX Group
yvette.roper@velux.com
+45 30 47 59 42

Sophie Evans
Head of communications, ArcelorMittal Europe
ArcelorMittal
Sophie.Evans@arcelormittal.com
+44 7825 595 849

ArcelorMittal (TG:ARRD)
Historical Stock Chart
From Oct 2024 to Nov 2024

ArcelorMittal (TG:ARRD)
Historical Stock Chart
From Nov 2023 to Nov 2024