ArcelorMittal will pay remuneration to employees based on the results of 2023

PJSC ArcelorMittal Kryvyi Rih will pay its employees a remuneration of 50% of the average monthly salary for the actual time worked based on the results of work in 2023. This is stated in the company’s press release.

«The year 2023 was a difficult year of military trials for the whole of Ukraine, for Kryvyi Rih and for ArcelorMittal Kryvyi Rih. We are all fighting for the country’s independence. And we all feel for ourselves how difficult it is to live and work in a war zone,» the statement said.

Over the past year, the iron and steel industry continued to recover from the consequences of the 2022 losses. The utilization of ArcelorMittal Kryvyi Rih’s steelmaking capacity was at 25-30%, and that of the mining department was about 40%.

«In 2023, power outages and logistical constraints continued to hamper the development of our production. However, thanks to the professionalism, dedication and work of each of us and the financial support of ArcelorMittal Corporation, we have maintained our production capacity, avoided staff reductions and continue our efforts to increase production volumes,» the company said.

The payment will be transferred to the plant’s employees on April 11, 2024.

In 2024, ArcelorMittal plans to increase capacity utilization from 25% to 50%. In particular, it plans to maximize the utilization of the mining division, and to launch the steel division with two blast furnaces in the second quarter of this year, in April. We have recently completed an extended repair of BF No. 6.

Last year was a challenging one for ArcelorMittal Kryvyi Rih, which produced 1 million tons of steel, 1.5 million tons of pig iron and 0.9 million tons of commercial rolled products. However, the most important thing is that the company continues to operate, contributing to the Ukrainian economy during the war, and maintains its production facilities in order to increase production as soon as possible if the situation improves.

In 2023, the plant paid UAH 4.1 billion in taxes and fees to the budgets of all levels of Ukraine. The company was included in the rating of the best companies in Ukraine with an impeccable reputation.

ArcelorMittal Kryvyi Rih is a full-cycle steelmaking enterprise in Ukraine. Its production facilities are designed to produce over 6 million tons of steel, 5 million tons of rolled products and 5.5 million tons of pig iron annually. The company employs over 20 thousand people.