The international corporation ArcelorMittal is stopping operations at its Kryvyi Rih plant – the largest metallurgical enterprise in Ukraine. This decision was made after four missile strikes by the Russian Federation on the plant's facilities over the last five weeks, which resulted in deaths and injuries.
The company has already officially informed about the impossibility of continuing operations in a safe and sustainable manner the Ukrainian government.
The last shelling of the enterprise occurred on September 21. In total, over the last five weeks, five employees have died as a result of four enemy attacks, and another 17 have been injured (one employee is in critical condition). Additionally, the missiles caused significant damage to production workshops and energy infrastructure.
Currently, the company's management is discussing further action plans with the Ukrainian authorities. The main efforts will be focused on conserving and preserving the plant's infrastructure to resume production after peace is established.
Due to the forced shutdown, ArcelorMittal expects to record an asset impairment loss of approximately 1 billion US dollars. In total, since the beginning of the full-scale invasion, the corporation has allocated over 700 million dollars for financial support of the enterprise and assistance to employees and their families.
We remind you that ArcelorMittal Kryvyi Rih is the largest enterprise in Ukraine's mining and metallurgical complex with a full production cycle (from iron ore mining to finished metal rolling). It is part of the international group ArcelorMittal, which is one of the world leaders in the steel industry and operates in 60 countries. The plant experienced the first serious strike during this series of attacks on August 17 – then two people died and 13 were injured due to damage to energy and blast furnace facilities.
