Monday, October 20, 2008

ArcelorMittal plans U.S. Steel cutbacks

The United Steel Workers of America union said Friday that ArcelorMittal, the world's leading steel maker, will cut back on operations in the United States.

However, statements by the USW and ArcelorMittal appeared to conflict on whether the cutbacks might affect the Cleveland mill.

Reports from the company already indicate that it will trim its steel output from Europe by 15 percent because of lower demand and uncertainty about the world's economic climate. The company also is reducing production in South Africa.

The Associated Press reported that a spokesman in Luxembourg, ArcelorMittal SA's headquarters, said lower production would proceed "temporarily until the situation becomes better again."

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