ArcelorMittal told Ukraine on 25 September that ArcelorMittal Kryvyi Rih, the country's largest steel plant, cannot restart safely after four missile strikes in five weeks. The company said the strikes killed five employees and injured 17, with one worker still in critical condition, and that it expects a non-cash charge of about 1 billion dollars. It plans to keep the site so a later restart remains possible.
ArcelorMittal said on 25 September that it had told the government of Ukraine it cannot restart ArcelorMittal Kryvyi Rih in a safe and sustainable way. Ukraine's largest steel plant cannot return to production after a series of missile strikes.[1], [2]
The company said the plant was hit by four missile strikes in five weeks, the last on 21 September, four days before the shutdown was announced. The strikes killed five employees and injured 17, and one worker remains in critical condition. The company said the strikes left extensive damage at the production facilities. The company expects a non-cash charge of about 1 billion dollars: a write-down of the plant's book value, with no cash leaving the company. It said the support it has provided since the full-scale invasion exceeds 700 million dollars.[1]
Mauro Longobardo, chief executive of ArcelorMittal Kryvyi Rih, said the company could no longer operate the site safely. The company will discuss the plant's future with the Ukrainian government and preserve the infrastructure so production can resume if the war ends. It will not return to production until the site can be run safely. The shutdown is a halt to production until safe operation is possible, not a dismantling of the plant.[1], [2]
