Giant Steel Manufacturer Shutting Plants Because Of Energy Prices

• Reiner Blaschek, CEO of ArcelorMittal Germany, the world’s largest steel manufacturer, said the German division of his firm no longer can compete due to soaring energy prices.
• ArcelorMittal recently was forced to shutter two German plants because of energy prices.
• “Production in Germany is currently no longer competitive,” said Blaschek. “We need competitive energy prices for industry.”

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