The world’s leading steel and mining company ArcelorMittal announced that it will close a coke plant and six production lines in Belgium.
Due to the collapsing demand and sick European economy, ArcelorMittal has made it to stop losses.
The company says that steel demand in Europe is 29% down than before the three-year crisis and growing competition from around the world.
However, it will affect 1,300 unemployed directly and they are expecting the government to intervene for saving the jobs.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62828&division=A9
