The company is mothballing industrial assets for two months
The ArcelorMittal Kryvyi Rih steel plant is initiating a cold shutdown process. The decision follows serious security threats resulting from a series of Russian missile strikes. This was reported by Economichna Pravda citing ArcelorMittal Kryvyi Rih, according to the portal PromPolitInform.
Company management announced that the step was triggered by the aftermath of four massive attacks by the russian federation. The strikes resulted in the deaths of six employees, over 18 injuries, and significant damage to primary metallurgical production facilities.
Safety of personnel and assets
The cold shutdown process is scheduled for two months. It includes preparatory measures to safely halt production and the subsequent mothballing of industrial assets to preserve them until the conclusion of active combat operations.
CEO Mauro Longobardo emphasized that the shutdown is a necessary measure to protect the lives of workers and equipment. He stated that the ArcelorMittal Group remains in Ukraine, but full-scale operations at the plant are currently impossible.
Aftermath of previous strikes
The situation escalated following a series of shelling incidents over the past five weeks. Specifically, on August 17, a missile strike hit blast furnace and energy infrastructure facilities, leading to casualties and a forced reduction in operational activities.
Photo: Economichna Pravda
Read also: 90% of Ukraine’s metallurgy sector has halted; up to 7% of GDP is at risk — Forbes
