ArcelorMittal South Africa Faces Long-Products Division Closure: CEO Verster's Dire Warning

Dec 01, 2023

Unavoidable Closure Looms: AMSA's CEO Verster Signals Tough Times Ahead

ArcelorMittal South Africa (AMSA) CEO Kobus Verster recently announced the impending closure of the company's long-products division, starting in January. Verster highlighted various issues, like high costs and oversupply, leading to this tough decision.


The closure comes after AMSA suffered losses due to power cuts and market challenges. Verster emphasized problems with government relations and policies affecting competitiveness.


AMSA plans to become smaller, focusing on Vanderbijlpark operations for sustainability. The closure reflects tough challenges in South Africa's steel industry.


For more insights, read the full article on Engineering News: ArcelorMittal SA CEO sees no way of avoiding longs closure, says wind down to start in Jan (https://www.engineeringnews.co.za/article/arcelormittal-sa-ceo-sees-no-way-of-avoiding-longs-closure-says-wind-down-to-start-in-jan-2023-11-28/searchString:ArcelorMittal+SA+CEO+sees+no+way+of+avoiding+longs+closure+says+wind+down+to+start+in+Jan)


Explore the full post in the link above for a deeper understanding of the situation.

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