Russian missile strikes disrupt operations at Ukraine's steel giant ArcelorMittal
Ukrainian ArcelorMittal Kryvyi Rih is halting operations amid Russian attacks (photo: Getty Images)
ArcelorMittal Kryvyi Rih is placing its operations into cold shutdown mode due to massive Russian attacks, the company reported.
The decision to shut down operations was made following four devastating missile attacks that killed six employees and injured more than 18 others.
Primary steelmaking operations have already been halted.
Over the next two months, the company will prepare for a safe shutdown and preserve its industrial assets.
The main goal is to protect employees and assets so operations can resume once hostilities end.
"I want to stress that a cold shutdown is not simply a suspension of production. It is a precautionary measure to ensure business resilience and a way to manage significant risks associated with each individual asset," said ArcelorMittal Kryvyi Rih CEO Mauro Longobardo.
The company's management assured that the ArcelorMittal Group is not leaving Ukraine. However, safe operations remain impossible as long as the war continues.
"Our number one priority is to protect our people and industrial assets so that we can resume operations at the earliest possible opportunity," Longobardo added.
Once the war ends and the necessary conditions are in place, the company plans to begin discussions with the Ukrainian government on the possible resumption of operations.
Notably, Ukraine's heavy industry has come under increasing pressure due to ongoing hostilities, persistent attacks on infrastructure, and rising costs.
Earlier, the Metinvest Group appealed to the authorities to reconsider state support for large businesses.
The company stressed that the industrial sector is operating under extremely difficult conditions due to continually rising tariffs, logistical challenges, and restrictions on exports to the European Union. It said systematic government action was needed to help preserve industrial facilities.
A critical situation has also developed in Zaporizhzhia, where Zaporizhstal halted operations following a series of massive Russian attacks.
The shutdown has put the region's economic stability and more than 50,000 jobs at risk.
