ArcelorMittal has announced that it will close its US wire rod mill in Georgetown, South Carolina, formerly Georgetown Steel Co., from December 5 through January 12.
The company says that the temporary closure is part of its efforts to scale back global production by 35 percent and to reduce production at its Long Carbon Unit by 30 percent. About 280 employees at the Georgetown plant will temporarily be out of work as a result of the closure.
A statement released by ArcelorMittal Tuesday said that the company is responding to the "extraordinary economic environment" it is facing. "We will be carefully monitoring the situation and we look forward to many of our employees returning to work as soon as it is warranted by market conditions," the statement said.