PETER BRUCE: Closure of Amsa Newcastle should come as no surprise
Steel was to have rebuilt SA, but profound policy failure fuelled by hubris has led to the direct loss of 3,500 jobs
09 January 2025 - 05:00
You’d think, from all the outrage, that ArcelorMittal SA’s (Amsa’s) decision to shut down its long-products division was a surprise.
But Amsa CEO Kobus Verster has been trying to shut down his loss-making reinforcing bars, beams, rails and profiles business for years. Only last November, he told workers at the Newcastle plant there was no way to avoid closure. It would begin in January, sparing workers an even more bleak Christmas...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.