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ArcelorMittal may close some South Africa sites after review

Sep. 25, 2019 2:59 PM ETArcelorMittal S.A. (MT) StockMTBy: Carl Surran, SA News Editor
  • ArcelorMittal's (MT +3.2%) South Africa unit says it may close some operations, as it battles cheap imports, rising costs and a weak local economy.
  • The unit says it plans to review some of its major operating sites, individual plants and production areas, but will exclude its coke operations and the Highveld Structural Mill.
  • MT says it has started consultations with employees and trade unions on jobs but does not offer further details; the unit said in July it planned to cut more than 2K jobs.

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