Romania-based ArcelorMittal Galati, subsidiary of Luxembourg-headquartered global steel giant ArcelorMittal, is to temporarily shut down one of its two heavy plate mills. "Rolling operations at heavy plate mill No. 1 will be temporarily suspended. Production will resume as soon as the market situation improves. This decision is consistent with the concept of flexible production that we are now implementing," stated Dorian Dumitrescu, spokesman for the steel plant.
The measure was prompted by the steel market slowdown in the region. Mr. Dumitrescu underlined that ArcelorMittal Galati has faced a strong reduction in order volumes amid the continuing economic downturn in Europe combined with the overcapacity situation.
"This situation especially affects the heavy plate market. Consequently, our company is exploring possibilities of temporarily adjusting operations to respond to the current situation," Dumitrescu said.
ArcelorMittal Galati's heavy plate mill No.1 mill was restarted this summer after a halt of three and a half years caused by a lack of orders in the steel market. The facility employs about 300 workers.