Pressure forces ArcelorMittal SA to become leaner
Global factors help hammer full-year profit down 60% to R2.64bn
09 February 2023 - 10:14
UPDATED 09 February 2023 - 23:20
Steel major ArcelorMittal SA is planning to consolidate some of its operations to create a leaner and more efficient operation in response to softer prices and low demand, which have battered the group over the past decade.
The company on Thursday reported that profit for the year ended December 31 plunged 60.2% year on year to R2.64bn, amid global factors such as the war in Ukraine, the slowdown of the Chinese economy and lower commodity prices...
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