ArcelorMittal to idle Romanian plant

November 11th, 2008 - 11:45 pm ICT by IANS  

Bucharest, Nov 11 (DPA) ArcelorMittal, the world’s largest steelmaker, will idle one of its four Romanian plants because of falling global demand, it was reported Tuesday.The plant at Hunedoara will halt production in a few days for about two months, its first idling since the depression of the 1930s, factory director Remus Patan told the Mediafax agency.

Luxembourg-based ArcelorMittal said Nov 5 it would cut production as the slowing global economy reduces steel demand.

No immediate layoffs are planned at Hunedoara, Patan said. Workers will be sent on paid leave and later receive 75 percent of their full pay, he said.

Last month, ArcelorMittal reduced output at Galati, its biggest Romanian plant.

Renault SA’s Dacia unit, another major Romanian employer, said Monday it would halt production of its budget-priced compact cars for three weeks starting November 20 because of the economic slump.

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