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ArcelorMittal extends period of reduced activity at steel mill in Romania's Hunedoara

ArcelorMittal extends period of reduced activity at steel mill in Romania's Hunedoara source: Wikimedia Commons, by Dezidor

BUCHAREST (Romania), August 5 (SeeNews) - Steel works ArcelorMittal Hunedoara [BSE:SIDG], part of multinational steel manufacturing corporation ArcelorMittal, said on Friday it has extended the period of reduced activity for a week due to lack of orders.

Activity at the steel mill will be reduced during August 6-12, ArcelorMittal said in a statement filed with the Bucharest Stock Exchange.

Workers will be paid 75% of their base salary during this period.

The company took a similar decision for the July 23-August 5 period, for the same reasons.

The steel works employed 582 at the end of 2021, according to data from the finance ministry.

Besides the steel mill in Hunedoara, ArcelorMittal has four more operating facilities in Romania - a lime quarry in the eastern city of Tulcea, two plants for tubular products in Iasi and Roman, both in eastern Romania, and Romportmet, a captive port on the river Danube.

ArcelorMittal Hunedoara's shares last traded on July 5, at 0.31 lei ($0.06/ 0.06 euro), on the alternative segment of the Bucharest bourse, AeRO.

(1 euro=4.9264 lei)

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