ArcelorMittal South Africa To Close Long-steel Business

ArcelorMittal South Africa to Wind Down Long-Steel Products Business
Around 3,500 jobs will be affected after weak economic conditions, high costs and Chinese steel imports weighed on the company.
ArcelorMittal to shut South Africa long steel business
ArcelorMittal to close long-steel business in South Africa, citing losses from economic conditions, high costs and Chinese steel imports.
ArcelorMittal to Close South Africa Site With 3,500 Jobs at Risk
ArcelorMittal South Africa Ltd. will close its business making long-steel products, after months of consultations with the government failed to stave off the threat to thousands of jobs.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?
ArcelorMittal South Africa to close plant, shares plummet
JOHANNESBURG (Reuters) -Steel producer ArcelorMittal South Africa's shares fell more than 15% on Monday after the company said it would proceed with the closure of its loss-making long steel business.
ArcelorMittal’s South African subsidiary to shut down long steel plants
Johannesburg, Jan 6 (PTI) ArcelorMittal South Africa Limited (AMSA), the local subsidiary of Indian-born British steel magnate Lakshmi Mittal, will cease operations at its long steel plants in the country, impacting over 3,500 jobs.
ArcelorMittal South Africa to close long-steel works, sees loss
The company said steel production will likely cease by the end of the month and it has yet to determine the final number of job losses.
ArcelorMittal South Africa To Cut 3,500 Jobs Amid Economic Struggles
ArcelorMittal South Africa, a unit of steel manufacturing company ArcelorMittal (NYSE:MT) has made a major restructuring decision to wind down its Longs Business, having significant consequences on its workforce.
ArcelorMittal South Africa to close long-steel business
Steel producer ArcelorMittal South Africa, a unit of Luxembourg-based ArcelorMittal, is to wind down its long-steel business, impacting 3,500 jobs, the company announced on Monday. The decision follows sustained challenges,
ArcelorMittal South Africa Decides on Winding Down Longs Business
ArcelorMittal’s MT division, ArcelorMittal South Africa, has decided to wind down its Longs Business after facing continuous challenges like weak economic growth, high logistics and energy costs, and an influx of low-cost steel imports from China.
Government says intervention was ‘insufficient’ to halt ArcelorMittal plant closures in Newcastle, Vereeniging
The Department of Trade, Industry and Competition has said interventions were not sufficient to prevent the impending closure ...
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After the Bell: ArcelorMittal woes add to SA’s alarming deindustrialisation
Deindustrialisation has been happening at an alarming scale in SA. The manufacturing industry’s contribution to economic output and employment has declined and been on the ropes.
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3,500 Jobs at Risk As ArcelorMittal Winds Down Long-Steel Business, EFF Blames GNU for Retrenchments
The Economic Freedom Fighters blamed the Government of National Unity for ArcelorMittal's decision to wind down some ...
Steel Meltdown: How government failure doomed ArcelorMittal and 3,500 jobs
The closure of ArcelorMittal’s steel plants is a stark reminder of the consequences of inadequate policymaking and government ...