ArcelorMittal Announces Sale of Several US Steel Smelting Facilities

ArcelorMittal has decided to sell three of its US steel plants. The company noted that it is in talks to sell some long products. The company intends to sell LaPlace, Steelton and Vinton properties. In addition, the company also decided to permanently close the Luxembourg Schifflange plant.

The US has already implemented some cost-cutting measures, including restricting purchases and revising employee health plans, according to the company. The company is also making efforts to drive productivity and implement asset optimization in its steelmaking operations. In addition, it closed two facilities already last year. The company reported a loss of $ 8 billion during 2015.

The company's website states that the Steelton facility has an annual production capacity of 1 million tonnes. The plant has an electric arc furnace, a steel-pouring center, and three continuous casting lines. It also operates a ladle furnace, a vacuum degasser, a 44-inch blooming mill, and a production of railroad and rebar products.

LaPlace has an annual steel production capacity of 620,000 tons and an annual rolling capacity of 480,000 tons. Angles, beams, channels and fittings are produced here. The facility includes an electric arc furnace, four blank lines.

The Vinton mini-mill has an annual raw material capacity of 320,000 tons of steel. It manufactures fittings for commercial and industrial construction, grinding balls for the mining industry and others. The facility includes an electric arc furnace, section continuous casting machine, rolling mill and rebar.