July 29, 2010: Steel behemoth ArcelorMittal is planning to study a spinoff of its stainless steel unit to present shareholders. This will allow the business to pursue growth, believes the company, according to a Reuters report. The spinoff is scheduled to take place at the start of next year, with the Mittal family ensuring a "considerable" stake for itself. Currently, stainless steel makers face overcapacity in Europe and are seriously looking at consolidation in order to slash costs. Source: Steel Insights Daily