Arcelor's subsidiary Ugitech plans reorganization

Arcelor’s subsidiary Ugitech plans reorganization

The world's largest steelmaker Arcelor announced that it is planning to reorganize its Ugitech subsidiary, a merger of Ugine-Savoie Imphy and Sprint Metal. The company which has operations in France and North America, produces stainless and nickel alloy products. It has an annual capacity of 220'000 tons and total sales of €600 million. Under the framework of reorganization plan, the rolling mill and finishing line at Imphy will concentrate on alloys to ensure its international competitiveness. This will cause 123 job cut. The company also reduce fixed costs by 25% by the end of 2005 with the loss of 173 jobs.