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ArcelorMittal named most admired steel company

The ArcelorMittal Indiana Harbor complex in East Chicago is shown at evening in October 2016. Fortune Magazine named ArcelorMittal its most admired steel company.

ArcelorMittal, one of the largest employers in Northwest Indiana, was named the most admired steel company in the world by Fortune Magazine.

Fortune ranked ArcelorMittal ahead of rivals like Kobe Steel, Nucor, ThyssenKrupp and China Baowu Steel Group.The Luxembourg-based steelmaker ranked second in the metals sector after Arconic, which employs hundreds of workers at its Alcoa Howmet plant in LaPorte that makes castings for the aerospace and industrial gas turbine industries.

ArcelorMittal, which employs around 20,000 workers across the Calumet Region, placed just ahead of Nippon Steel & Sumitomo Metal, which it partners with to operate the I/N Tek and I/N Kote plants in New Carlisle. ArcelorMittal, which is ranked 123rd worldwide on Fortune Magazine's Global 500, also has local operations in East Chicago, Burns Harbor, Riverdale and Gary.

U.S. Steel, Northwest Indiana's other large steelmaker, did not make Fortune's list of the top 9 most admired metals companies.

The business magazine, which is known for its Fortune 500 rankings and other lists, partnered with the consulting firm Korn Ferry Hay Group to survey more than 3,800 executives, analysts, directors, and experts on the 1,000 largest U.S. companies by revenue, as well as global businesses that bring in more than $10 billion a year in revenue. Rankings were based on criteria such as products, investment value, management quality, social responsibility and talent attraction.

Fortune's top-ranked "All Stars" skewed heavily toward tech. The top 10 most admired were Apple, Amazon.com, Starbucks, Berkshire Hathaway, Disney, Google parent company Alphabet, General Electric, Southwest Airlines, Facebook and Microsoft.

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Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.