Bloomberg reported that ArcelorMittal said that plans by labor unions in Europe to strike next month in protest against plant closings and job cuts are unacceptable given regional economic turmoil.

It said “It would be far more damaging to the long term viability of ArcelorMittal in Europe to ignore this economic reality and to continue to produce steel that we know we cannot sell. It is unacceptable to consider disrupting production in the current uncertain market.”

It said “The economic situation in Europe at present has necessitated the decisions that we have taken to temporarily idle some facilities and to propose the permanent closure of the hot phase at Liege.”

ArcelorMittal said “Steel demand in Europe is still at approximately 75% of pre crisis levels.”

In the past three months, ArcelorMittal has said it will idle plants in France, Germany, Luxembourg, Poland and Spain. On October 14, the company said it would permanently shut down its blast furnaces in Liege, Belgium.

The European Metalworkers’ Federation has called for all ArcelorMittal workers in Europe to strike on December 7 to protest against the company’s plan to close plants and cut jobs.

(Sourced from bloomberg.net)