ArcelorMittal Hunedoara reduces production amid lack of orders
Romania-based ArcelorMittal Hunedoara has reduced production from 9 December until the end of the year due to a lack of orders, the firm says in a statement filed with the Bucharest Stock Exchange.
“In accordance with the provisions of law and regulation, we inform you of the temporary reduction of the company’s activity,” the message says. “This has been made considering the economic difficulties faced by the company caused by the lack of orders.”
Employees affected by the move will be paid 75% of their base salaries during this period, it adds.
ArcelorMittal did not reply to Kallanish request for comment.
The Romanian firm took similar measures in 2022, also due to a lack of orders.
In 2020, it also stopped production temporarily due to the Covid pandemic.
Electric arc furnace-based Hunedoara, part of the ArcelorMittal Europe – Long Products division, produces sections, billet and merchant bar, employing 584 people and some contractors. The firm produces 200,000-300,000 tonnes/year of crude steel.
Hunedoara remained part of ArcelorMittal after the steelmaking group sold its flagship Romanian Galati steelworks to Liberty Steel in 2019.
Svetoslav Abrossimov Bulgaria
