Ukrainian steelmaker ArcelorMittal Kryvyi Rih has announced that it has begun the process of placing its operations into cold shutdown mode following four Russian missile attacks that killed six employees, injured more than 18 others and halted primary steel production.
According to the company, the process is expected to take approximately two months and will involve preparations for the safe shutdown of production facilities, followed by the preservation of industrial assets to enable a potential restart after the end of hostilities.
Employee safety and asset preservation remain priorities
Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih, stated that the cold shutdown is not simply a suspension of production but a precautionary measure aimed at ensuring business sustainability and managing risks associated with individual industrial assets. He emphasized that protecting employees and preserving production facilities remain the company's main priorities, allowing operations to resume at the earliest possible opportunity when conditions permit.
The company also confirmed that ArcelorMittal Group is not withdrawing from Ukraine. However, according to its current assessment, safe operations are not possible while the war continues. Following the end of hostilities, ArcelorMittal plans to engage in discussions with the Ukrainian government and reassess whether production can resume safely and sustainably.
