Fri Oct 14, 2011
BRUSSELS Oct 14 (Reuters) - ArcelorMittal the world's largest steelmaker on Friday confirmed that it will permanently close its liquid phase steel production at its site in Liege, Belgium.
Union leaders said late on Wednesday that the group's local bosses had announced that the two blast furnaces, one idled since 2008, the other since August, and a foundry would be closed down.
ArcelorMittal said it faced a structural over-capacity in Northern Europe, given a difficult European market.
"The liquid phase in Liege is still not competitive enough under foreseeable market conditions," Joao Felix da Silva, CEO of ArcelorMittal Liege said in a statement on Friday.
Arcelor said the decision would not impact its capacity or market share in Europe.
(sourced Reuters)
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