ROMANIA STEEL CORP. CONTINUES TO REDUCE OUTPUT DUE TO SLUGGISH DEMAND

15 August, 2022 by
Administrator

Due to a shortage of orders, ArcelorMittal Hunedoara in Romania, a subsidiary of the international steel production company ArcelorMittal, announced it has prolonged the period of decreased operation by one week.

According to a statement ArcelorMittal filed with the Bucharest Stock Exchange, there will be a reduction in activity at the steel factory from August 6 to 12.

During this time, employees will be paid 75% of their base income.

For the same reasons, the business made a comparable choice for the period from July 23 to August 5.

582 people were employed at the steel works as of the end of 2021, per data from the finance ministry.

ArcelorMittal operates four more facilities in Romania in addition to the steel mill in Hunedoara: a lime quarry in the eastern city of Tulcea, two tubular product plants, also in the east, and Romportmet, a captive port on the Danube.

The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.

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