The Luxembourg-based steel conglomerate ARBED – Aciéries Réunies Burbach-Eich-Dudelange – was founded in Luxembourg in 1911 and played a key role in the country's industrial and economic development throughout the 20th century. The ARBED headquarters in Luxembourg city was built in 1922 and belongs today to the State Saving Bank (Banque Caisse d'Epargne de l'Etat). In 2002, ARBED merged into Arcelor with two other European iron and steel companies. Arcelor's takeover and merge by Indian-owned Mittal Steel in 2006 has led to the creation of ArcelorMittal, the second largest iron and steel producer in the world.