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AcelorMittal to close Luxembourg steel plant

- By Charlotte Stubben

ArcelorMittal will extend the closure of its electric arc furnace in Schifflange, Luxembourg, indefinitely, a measure which highlights the deep crisis affecting the EU steel sector, Reuters reported.

On Thursday, Mr Nico Reuter ArcelorMittal's Europe VP for long carbon steel said in a statement “Unfortunately the construction market, for which the products at Rodange and Schifflange are made, has not recovered from the downturn that started at the end of 2008 and there is still no sign of meaningful improvement.”

"As a responsible company we need to adapt to this reality to protect the interests of all our stakeholders, including employees. We have a strong commitment from both the unions and the government to use all social tools available, including the proven tripartite system, to avoid jobs losses and other social impacts from the proposed project."

As per report, ArcelorMittal's decision, which will affect 282 employees at the site, is due to weakness in the construction sector in Western Europe.

Read more: BHP Billiton eyeing more job cuts in Australia

At its sites at Rodange and Schifflange, considered a single operational unit, ArcelorMittal produces long carbon steel products such as reinforcement bars, crane rails and special sections.

Read more: Siemens plans to axe about 11,600 jobs

The mill in Rodange will continue to operate on two shifts, the company said.

"This is the beginning of a number of shutdowns across Europe; Europe can simply no longer compete with the cheaper material being produced in other parts of the world, and consumption of standard-grade steel is also falling in Europe," an unnamed source in the British steel trade told Reuters, according to International Business Times.

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