Coronavirus impact: ArcelorMittal plans to cut production in Europe

By: |
Published: March 19, 2020 4:54:01 PM

The outbreak has impacted several European countries in which ArcelorMittal operates, the company said in a statement.

ArcelorMittal further said it takes the risks associated with the coronavirus outbreak very seriously and the safety and wellbeing of its employees is of paramount importance.ArcelorMittal further said it takes the risks associated with the coronavirus outbreak very seriously and the safety and wellbeing of its employees is of paramount importance.

Global steel major ArcelorMittal on Thursday announced plans of reducing productions in Europe to ensure wellbeing of employees amid the spread of deadly coronavirus in the continent.

The outbreak has impacted several European countries in which ArcelorMittal operates, the company said in a statement.

“Given the extent of the outbreak, the health and safety implications, and particularly the impact it is having on several European countries in which ArcelorMittal operates, the company is taking steps to reduce production from its European operations to ensure the wellbeing of our employees is maintained and that production is aligned with demand,” it said.

The statement issued by ArcelorMittal did not have any mention of the steel plant in Hazira, India but said at all global operations, the company is following government and WHO’s advice and guidelines in order to protect employees and prevent the spread of the infection.

The Hazira plant in Gujarat is owned by JV firm ArcelorMittal Nippon Steel India (AMNS), in which ArcelorMittal has 60 per cent stake and the rest 40 per cent is owned by its Japan-based partner Nippon Steel Corporation (Nippon Steel).

ArcelorMittal further said it takes the risks associated with the coronavirus outbreak very seriously and the safety and wellbeing of its employees is of paramount importance.

“We will continue to monitor the evolution of the coronavirus in each of our operating markets and take decisions accordingly to ensure the wellbeing of our employees and our ability to meet customer demand,” it said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Power play: Govt has done well to announce a bug bounty programme
2Guinness Record: World’s largest online business lesson held for post-Covid era
3Indian developer reports critical flaw in Sign in with Apple; gets nearly Rs 75 lakh in reward