ArcelorMittal reduces operations at Romanian steel plant
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Update time : 2024-12-12 16:56:33
ArcelorMittal's Steel Plant in Hunedoara, Romania, has announced a significant reduction in operations from December 9 through the end of 2024 due to a shortage of orders.
During this period, the company will continue to support its 600 employees by providing 75% of their regular wages.
The financial performance of the plant reflected challenging market conditions. From January to September, the company's losses escalated, more than doubling to RON 80 million. Simultaneously, revenues declined by 13% year-on-year, reaching RON 420 million.
In addition, the company's market capitalization also experienced a 3.45% year-on-year decrease, now standing at RON 56 million.
