ArcelorMittal Kryvyi Rih will enter a cold shutdown, with its industrial assets subsequently placed into preservation, the company announced.
"Following four devastating missile attacks that killed six employees, injured more than 18 others and forced the suspension of primary steel production, ArcelorMittal Kryvyi Rih has begun the process of a cold shutdown," the company said in a statement.
According to ArcelorMittal, the process will take approximately two months and involve preparations for the safe shutdown of production facilities, followed by the preservation of industrial assets to enable operations to resume after the end of hostilities.
Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih, explained that the decision was necessary to protect employees and the company's industrial infrastructure.
"A cold shutdown is not simply a suspension of production. It is a precautionary measure to ensure business continuity and a way to manage significant risks at the level of each individual asset. Our number one priority is to protect our people and industrial assets so that we can resume operations at the earliest possible opportunity," Longobardo said.
He emphasised that the ArcelorMittal Group is not leaving Ukraine.
According to Longobardo, safe operations remain impossible while the war continues.
"Once the war is over and conditions allow, we will begin a dialogue with the Ukrainian government and reassess whether operations can be resumed safely and sustainably," he added.
