At its Fos-sur-Mer factory in the south of France, ArcelorMittal said that it is ready to temporarily shut down one of its two blast furnaces.
The steel manufacturer stated that the company is seeing a slowdown in steel demand and added that a furnace would be shut down as of December, citing the effects of energy costs and an increase in steel imports into Europe.
ArcelorMittal announced that as part of the measures being implemented, it would modify working hours for certain of the plant's employees starting at the beginning of next month, up to a maximum of one day per week.
Bruno Ribo, CEO of ArcelorMittal Mediterranean, stated, "We will resume a two-blast furnace operation at Fos as soon as market conditions permit.
The yearly capacity of ArcelorMittal Fos-sur-Mer is 4 million tons.
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