ArcelorMittal injected 400 million euro in Galati and will continue investments, says Lakshmi Mittal, chairman and CEO of ArcelorMittal.
“ArcelorMittal remains committed to Galati and to Romania. One of the major advantages of being part of a global company is having scale and scope which means know-how from our units around the world can be brought to Galati. We will also continue to invest in the business, building on the 400 million euro that has been invested in the Galati Unit since 2009,” says Lakshmi Mittal in a letter to employees with the occasion of celebrating 50 years of history of the Galati plant.
“October 2016 represents an important milestone in the history of ArcelorMittal Galati. 50 years ago, the first heavy plate was produced here and shipped to the customer. As a happy coincidence, two other important events are also celebrated this year, namely 10 years since ArcelorMittal was created – forging the world’s leading steel company – and 15 years since Mittal Steel purchased the Galati Plant’s shares from the Romanian State”, said Lakshmi Mittal. “It is clear to me that our people in Galati have managed, over the last five decades, to overcome hardships and – with professionalism, resilience and courage – to ensure the continuity of steel production,” he says.
“The quality of the people was one of the key reasons that led to the purchase, in 2001, of the unit in Galati by Mittal Steel. In the years that followed, we have been through many challenges. After a relatively good period, a turning point came in 2008 when structural changes occurred in our business following the global financial crisis and a paradigm shift in steel demand (…) After several years of hard work and commendable team work, last year we saw the first positive results of the fundamental transformation of the Galati unit. I am fully aware of the changes and efforts you have made to improve the situation”, adds the chairman of ArcelorMittal.
