EuAsiaNews quoting local media reported that ArcelorMittal is shutting down one of two furnaces in its Ghent plant in western Belgium.

The furnace shut down come as steel demand remains extremely low.

The report cited Mr Guy Bontinck staff manager as saying that the closure will be temporary and said that the workforce should not fear for their jobs.

The report added that earlier Wednesday, ArcelorMittal announced a similar closure in Liege in eastern Belgium.


ArcelorMittal employs 5,600 workers in Ghent. In Liege, a number of temporary contracts will not be extended. A thousand workers are employed in the divisions affected in Liege.

The company management is looking at early retirement schemes for white collar workers, but insists that it will do everything it can to prevent sackings.

(Sourced from ET)