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Fire ravages ArcelorMittal SA plant

Feb 12 2013 08:05 AFP
Fire

(File) (Shutterstock)

Company Data

ARCELORMITTAL SOUTH AFRICA LIMITED [JSE:ACL]

Last traded 34.15
Change -0.39
% Change -0.01
Cumulative volume 67932
Market cap 15.22bn

Last Updated: 24/07/2014 at 04:15. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - A fire has caused extensive damage at ArcelorMittal's steel-making plant in Vanderbiljpark, forcing it to shut down, the company said on Monday.

ArcelorMittal SA CEO Nonkululeko Nyembezi-Heita said all employees were evacuated unharmed during the fire on Saturday.

"A comprehensive assessment is underway, but it is too early to quantify the exact production shortfall and economic impact," she said.

The company would not be in a position to completely fulfil its orders and force majeure (a contractual provision removing liability for unavoidable catastrophes) would be issued to the customers and suppliers affected.

"The company will work with customers to assess their requirements and make every effort to source their needs from various ArcelorMittal Group plants," said Nyembezi-Heita. 

The company's shares were down 6.76% to R33.12 in Tuesday morning trade.

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