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MTS - ArcelorMittal SA News Story

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Last Trade - 16/04/21

Basic Materials
Large Cap
Market Cap £23.62bn
Enterprise Value £29.90bn
Revenue £38.52bn
Position in Universe 12th / 729

Unions at ArcelorMittal's Ilva plant call strike over job plans

Sun 7th June, 2020 5:38pm
MILAN, June 7 (Reuters) - Unions representing workers at the
Ilva steel plant in southern Italy called a strike for Tuesday
to protest at reported plans by ArcelorMittal  MT.AS  for
thousands of job cuts at the struggling facility.
    The call by the FIM, FIOM and UILM unions came after
Industry Minister Stefano Patuanelli accused the group of
failing to respect the terms of a rescue agreement signed with
the government in March.
    Under that agreement, ArcelorMittal agreed to suspend plans
to walk away from the plant in the southern city of Taranto,
which it acquired in 2018, in exchange for a significant
injection of state funding.*:nL8N2AX6YO
    Italian media reported at the weekend that a new industrial
plan presented to the government late on Friday included 5,000
job cuts. A spokeswoman for ArcelorMittal confirmed the group
had presented a plan but declined to provide details.
    The loss-making plant, which employs more than 8,000 workers
and provides work for thousands more as suppliers or
contractors, is one of the few major industrial employers in
Italy's economically struggling south.
    But its future has been clouded by the need to restore
competitiveness while cleaning up after decades of severe
environmental damage.
    Patuanelli said on Saturday that an industrial plan
presented by the group last week was not in line with the March
agreement and that ArcelorMittal appeared to be using the
COVID-19 emergency as an excuse for not sticking to the
    "The plan presented by Arcelor Mittal does not reflect the
government's intentions for Taranto and doesn't reflect the
agreement of March 4," Patuanelli told RAI state television.
    The unions said the plan was unacceptable and demanded "full
employment, investment and environmental restructuring" in line
with an agreement from 2018. 
    Unions are expected to meet Patuanelli by videolink on
Tuesday to discuss the situation.

 (Reporting by James Mackenzie; editing by Barbara Lewis)
 ((; +39 02 66129533 ; Reuters
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