Long steel producer secures R1.68bn lifeline 1/6
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Long steel producer secures R1.68bn lifeline 2/6
01:57
JOHANNESBURG - Long steel producer ArcelorMittal South Africa will be delaying the closure of its business for at least six months.
The company has secured a one-point-six-eight billion rand lifeline from the Industrial Development Corporation of South Africa. That means 3500 jobs are safe for now.
According to Seifsa President Elias Monage, the environment is ideal to looking for better solutions not only for metal, but for the entire industry in general under new leadership.