ArcelorMittal South Africa in February said it will delay shutting its business that makes long- steel products and cutting as many as 3 500 jobs by six months after consulting with the government and the nation’s freight company.
ArcelorMittal South Africa’s decision to continue operating its long-steel unit has given the country an opportunity to re-energise local manufacturing, Manufacturing Circle Executive Director Philippa Rodseth said. Still, this “vital window of opportunity” to stimulate the demand side of the economy and support about 270 000 jobs needs to be supported by industry, government and labour, Rodseth said in an opinion piece published in the Business Day newspaper Wednesday.
“Should we get this right, we will have a reinvigorated, capacitated steel value chain that is able to compete internationally.” ADVERTISEMENT CONTINUE READING BELOW The firm in November said that slumping steel consumption — a proxy for the economy — coupled with South Africa’s failing power and transport systems had prompted it to stop manufacturing long-steel products, which are primarily used in construction.
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