ArcelorMittal, the world’s largest steel company, has decided to close its two plants in Germany due to the sharp increase in energy prices. About reported on the organization’s website.
“From the end of September, the group will close one of the two blast furnaces at its flat steel plant in Bremen until further notice. At the longs plant in Hamburg, the direct reduction plant will also be closed from the fourth quarter due to the current situation and the unfavorable outlook,” he said.
According to Rainer Blaschek, head of ArcelorMittal in Germany, whose description is given in the publication, all employees of these businesses have already been transferred to part-time work. All this is due to the increase in oil and gas prices, which reduces the competitiveness of the company. In addition, Germany will introduce an additional charge for gas from October, which threatens with additional costs.
He added that the metallurgical industry is extremely energy-intensive and the company is already uncompetitive due to the tenfold increase in gas and electricity prices. Therefore, some political action is needed to keep energy prices under control.
ArcelorMittal is the world’s largest steel and mining company. It exists in 60 countries and there are industrial enterprises in 20 countries. There are four factories in Germany.
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