ArcelorMittal halts production at its Ukrainian steelmaking operations
ArcelorMittal has decided to idle its steelmaking operations in Kryvyi Rih, Ukraine, for the safety of its personnel amidst ongoing tensions. The facility had already reduced production to one-third of its normal capacity. The idling process will take 7 to 10 days to ensure asset integrity. ArcelorMittal expresses deep concern for the situation in Ukraine and the safety of its employees.
In 2021, ArcelorMittal reported revenues of $76.6 billion, with crude steel production at 69.1 million metric tonnes, and iron ore production reaching 50.9 million metric tonnes.
- None.
- Idling of operations may lead to temporary revenue losses due to halted production.
- Increased operational costs due to the maintenance of idle assets.
3 March 2022, 16:30 CET
ArcelorMittal (‘the Company’) can confirm it has today taken the decision to idle its steelmaking operations in Kryvyi Rih, Ukraine in order to ensure the safety and security of our people and assets.
The Company has been evaluating the situation on a daily basis and production had previously been reduced with the plant operating at a technical minimum (approximately one-third of its normal production levels).
The process to idle all blast furnaces has commenced today. The process to safely idle these assets while maintaining asset integrity will take between seven and ten days.
ArcelorMittal is deeply concerned about the situation in Ukraine and the threat to our employees and the entire Ukrainian population.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2021, ArcelorMittal had revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes, while iron ore production reached 50.9 million metric tonnes.
Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/
| Contact information ArcelorMittal Investor Relations | |
| General | +44 20 7543 1128 |
| Retail | +44 20 3214 2893 |
| SRI | +44 20 3214 2801 |
| Bonds/Credit | +33 171 921 026 investor.relations@arcelormittal.com |
| Contact information ArcelorMittal Corporate Communications | |
| Paul Weigh Tel: E-mail: | +44 20 3214 2419 press@arcelormittal.com |
FAQ
Why did ArcelorMittal decide to idle its operations in Kryvyi Rih, Ukraine?
How long will ArcelorMittal's operations in Kryvyi Rih be idled?
What was the production capacity of the Kryvyi Rih plant before idling?
What were ArcelorMittal's revenues in 2021?
What impact might the idling of operations have on ArcelorMittal's stock (MT)?
