ArcelorMittal curtails operations at Romanian steel plant
<p>The ArcelorMittal Steel Plant in Hunedoara (BVB: SIDG) announced it decided to reduce its activity from December 9 until the end of 2024 as a consequence of the lack of orders during this period.</p>

<p>The company will pay 75% of the wages to its 600 employees, <a href="https://www.zf.ro/burse-fonduri-mutuale/vesti-proaste-in-prag-de-sarbatori-arcelormittal-hunedoara-anunta-22596033?mc_cid=22e85988c7&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Ziarul Financiar</a> reported.</p>

<p>The company’s losses have more than doubled to RON 80 million (EUR 16 million) in January-September, while its revenues decreased by 13% y/y to RON 420 million. Its market capitalisation dropped by 3.45% y/y to RON 56 million.&nbsp;</p>

<p>The ArcelorMittal Group owns two more production units in Romania, in Iași and Roman, and has approximately 127,000 employees worldwide.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com" rel="noopener" target="_blank">George Timakov/Dreamstime.com</a>)</em></p>