The ArcelorMittal Steel Plant in Hunedoara (BVB: SIDG) announced it decided to reduce its activity from December 9 until the end of 2024 as a consequence of the lack of orders during this period.

The company will pay 75% of the wages to its 600 employees, Ziarul Financiar reported.

The company’s losses have more than doubled to RON 80 million (EUR 16 million) in January-September, while its revenues decreased by 13% y/y to RON 420 million. Its market capitalisation dropped by 3.45% y/y to RON 56 million. 

The ArcelorMittal Group owns two more production units in Romania, in Iași and Roman, and has approximately 127,000 employees worldwide.

iulian@romania-insider.com

(Photo source: George Timakov/Dreamstime.com)