ArcelorMittal To Indefinitely Idle Luxembourg Schifflange Plant
20 Marzo 2012 - 6:35PM
Dow Jones News
Steel titan ArcelorMittal (MT) said Tuesday that it has proposed
to idle its electric arc furnace and continuous caster at
Schifflange, Luxembourg, for "an indefinite period of time" due to
continued weakness in the European construction market.
ArcelorMittal Rodange & Schifflange, a unit of the world's
largest steelmaker, said that labor unions have been informed about
its intention to mothball the plant.
The Luxembourg-headquartered steelmaker said that 282 people
would be affected by this proposal, out of a current workforce of
626 at both the Rodange and Schifflange sites. Some 220 people from
Rodange and Schifflange have already been relocated to other sites,
it said.
"Unfortunately the construction market, for which the products
in Rodange and Schifflange are made, hasn't recovered from the
downturn that started at the end of 2008 and there is still no sign
of a meaningful improvement," said Nico Reuter, vice president of
ArcelorMittal Long Carbon Europe.
The Schifflange steel plant has been idled since October 2011 as
a result of the deteriorating European construction market.
ArcelorMittal has lost more than EUR100 million over the last
three years from its Rodange and Schifflange operations and remains
concerned about future demand given that current construction
sector steel demand is around 20% below 2007 levels.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
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