ArcelorMittal Unable to Reopen Ukraine Facility Because of Missile Strikes

MT Newswires Live15:44

ArcelorMittal (MT) has informed the government of Ukraine it is unable to restart operations at its Ukrainian subsidiary because of continuing missile attacks, including one that struct on Monday, the company said Friday.

ArcelorMittal expects to record a non-cash impairment charge of about $1 billion because of damage to the facility.

Over the past five weeks, ArcelorMittal central Ukrainian plant in the city of Kryvyi Rih has been targeted by four missile strikes that have resulted in fatalities, injuries, and "extensive" damage to facilities, it said.

In several attacks over the last few months, five people have been killed and 17 injured, the company said.

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