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ArcelorMittal to Continue Production Cuts in Europe
04/09/2009 - ArcelorMittal informs its European Works Council it will continue production curtailments for a number of its sites in Europe due to the ongoing exceptional economic environment.
ArcelorMittal informed its European Works Council it will continue production curtailments for a number of its sites in Europe due to the ongoing exceptional economic environment. The company said the production cuts would help it continue to adapt to the market reality.
“We had a constructive meeting today with the European Works Council and I would like to take this opportunity to thank them for their co-operation during what is a very challenging period for the global economy,” commented Bernard Fontana, Executive Vice President and Management Committee Member of ArcelorMittal with responsibility for Human Resources. “The steel industry, like many global companies, is suffering the very real repercussions of the global economic slowdown.
The company said the production suspensions would be temporary, and that they would reviewed on a regular basis.
“We have moved swiftly to adapt ourselves to the new economic reality, but despite the good progress made market conditions remain harsh,” added Fontana, who added that it was “only sensible to continue with our plans to suspend and optimize production at our sites on a temporary basis, until we are confident that real demand is beginning to improve.”
ArcelorMittal plans to maintain all equipment during the suspension period to ensure that production can be re-started as swiftly as possible when market conditions improve. The company and the European Works Council have committed to facilitating strong and transparent social dialogue about the production suspensions at the local site level with the relevant Works Councils and employees.
“Our primary goal is to proceed in a socially responsible way with respect for those affected,” said Fontana. “These decisions are not taken lightly, but by taking the right initiatives now we are protecting the company and its employees for the longer term.”
Jacques Laplanche, Secretary of the European Works Council, added: "It is essential to deal with this exceptional economic environment by having a strong and consistent social dialogue at all levels including EMF, EWC, countries and sites and to ensure that all affected sites are well maintained to safeguard ArcelorMittal s production capability in Europe".
ArcelorMittal is the world's largest steel company, with operations in more than 60 countries. The company leads a number of major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the company covers the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to sustainable management of the environment and of finite resources. ArcelorMittal recognizes its responsibility to tackle the global climate change challenge; it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing approximately 10% of world steel output.
