UPDATE 1-ArcelorMittal confirms closures at Liege site
The company confirmed the news on Friday after union leaders
said late on Wednesday that the group’s local bosses had
announced that the two blast furnaces, one idled since 2008, the
other since August, and a foundry would be closed down.The talks leading up to the closure were difficult and at
one stage disgruntled union representatives prevented six
members of the Liege management from leaving the building, where
talks were held for 48 hours.ArcelorMittal said it faced structural over-capacity in
Northern Europe, given a difficult European market.In recent months, the group also idled blast furnaces in
Florange, France, and Eisenhuettenstadt, Germany.”The liquid phase in Liege is still not competitive enough
under foreseeable market conditions,” Joao Felix da Silva, CEO
of ArcelorMittal Liege, said in a statement on Friday.The company said the decision would not affect its capacity
or market share in Europe.Unions estimated that 500 jobs were threatened by the
decision.Da Silva said he was convinced that compulsory redundancies
could be avoided.Luxembourg-based ArcelorMittal told investors last month
that it would weather a possible recession better than in
2008/2009 because of savings made to date, a healthier balance
sheet and its expansion into mines.
