Wednesday, April 08, 2009

ArcelorMittal hardens steel output cuts in Europe

ArcelorMittal steel announced on Wednesday that it would continue to suspend production in Europe, and a union official said this meant the group would slash the output by more than half.

ArcelorMittal, by far the world's biggest steel maker, said after a meeting here with European union officials that "it is necessary to continue to suspend and optimise production" in the face of the global economic crisis.

CGT union official Jacques Laplanche told AFP that staff had been told at the meeting that European production would be cut by more than half from the end of April.

"Because of the crisis, ArcelorMittal wants to reduce costs and is going to concentrate production on certain sites," Laplanche said.

Furnaces at Liege in Belgium and at Florange in eastern France would be totally halted, he said.

Full story at  AFP


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