ArcelorMittal shutting steel finishing facilities in NY, Ill.
Dec 09, 2008 | 11:19 AM
| Scott Robertson
ArcelorMittal USA Inc., Chicago, will close steel finishing operations in Lackawanna, N.Y., and Hennepin, Ill., resulting in the layoff of more than 500 workers. It cited continuing problems associated with the failing global economy.
Both plants are marked for permanent closure, although the United Steelworkers union said negotiations must take place with union officials before they can be shut permanently.
ArcelorMittal SA, Luxembourg, is reducing steel production by about 40 percent in North America and about 35 percent globally in response to weak demand for steel brought on in part by the global financial crisis, according to the company. In November, those figures had been pegged at 35 percent and 30 percent, respectively (AMM, Nov. 6).....
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