UPDATE: ArcelorMittal To Temporarily Idle 2 Steel Plants In Spain
29 Settembre 2011 - 4:16PM
Dow Jones News
ArcelorMittal (MT), the world's largest steel maker is
temporarily idling steel production at two plants in Spain during
the fourth quarter, a company spokesman said Thursday.
ArcelorMittal will halt crude steel production and rolling at
its Madrid plant for three months starting in October. The plant
can produce about 700,000 metric tons annually of crude steel and
rolls medium and heavy sections.
ArcelorMittal will also close its strip products plant in Sestao
for two months starting in November. The plant has a capacity to
produce 1.8 million tons of hot rolled steel coils and 600,000 tons
of pickled coils a year, according to ArcelorMittal's web site.
A company spokesman said the closures were temporary and said
the situation would be reassessed during the fourth quarter. The
state-funded layoff program will be used to support affected
workers, the spokesman said.
ArcelorMittal's chief executive and chairman Lakshmi Mittal said
last week that ArcelorMittal is executing an asset optimization
plan, mainly focused in Europe, which will result in temporary
closure of high-cost blast furnace operations in favor of boosting
output from low-cost production facilities.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
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