Arcelor Mittal Hunedoara steels itself for decision on future next month

Newsroom 28/06/2010 | 11:27

The future of local firm Arcelor Mittal Hunedoara, which is specialized in long steel products (SIDG), will be determined next month. According to media reports, company officials will decide in July whether to dissolve the company or invest EUR 82.6 million in it following a capital increase worth a total of EUR 94 million.

“The decision is obviously to increase the capital, but it has to be submitted to shareholders. The dissolution of the company is out of the question,” Arcelor Mittal representatives said.

The company’s need for money comes after operating losses worth EUR 52 million piled up.

Last year was Mittal’s most difficult since arriving in Romania in 2001, as the crisis forced the Indian owner to temporarily close a number of production facilities and make many employees redundant.

Staff

 

BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Newsroom | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue