ArcelorMittal denied a number of rumours at the end of last week which had indicated that it was planning significant job cuts and production reductions at its longs mills in Luxembourg, Kallanish notes.
The company confirms that it is launching a transformation project for the next five years for the mills of Belval and Differdange aimed at reinforcing the position of the units in the long term.
“The transformation project aims to restore the competitiveness of the Belval and Differdange sites, which has been eroded by various external factors, including record levels of dumped imports into Europe, an increase in raw material costs and energy as well as of carbon, which more than tripled between January 2018 and the end of April 2019, and finally tariffs imposed by the United States on steel imports,” the company says.
“This comprehensive transformation project to enhance the long-term competitiveness and profitability of the sites focuses on cost and benefit improvements, as well as investments to improve processes and productivity,” it concludes.
Earlier last week source within both local Luxembourg trade unions and the government had mentioned that ArcelorMittal was planning to cut up to 260 jobs at the sites.
