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
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
"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.
Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.