Latest news with #ArcelorMittalLongProductsCanada
Time of India
2 days ago
- Business
- Time of India
ArcelorMittal to lay Off 153 workers, shutter Ontario wire mill amid restructuring, ET Infra
Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. Steelmaker ArcelorMittal's Canadian long products unit said on Wednesday that it was laying off 153 workers as part of a restructuring of its wire drawing unit's wire drawing mill in Hamilton, Ontario, will be shut down permanently in the coming activities, primarily intended for the telecommunications, construction and automotive markets, will be handled entirely at the Montreal comes after the US hiked tariffs on steel and aluminum imports, effective June 4, for all trading partners except companies and a major union last week warned of job losses and lost sales resulting from higher US levies on steel and aluminum, as Canada prepares for reprisals over the metal tariffs."The restructuring we are announcing today was necessary to ensure the sustainability of our wire drawing activities," said Stephane Brochu, CEO of ArcelorMittal Long Products Canada
Global News
2 days ago
- Business
- Global News
ArcelorMittal Long Products Canada closing wire drawing mill in Hamilton
ArcelorMittal Long Products Canada is closing its wire drawing mill in Hamilton, putting 153 employees out of work. The company said Wednesday all of the work will now be done at its Montreal location. Company chief executive Stéphane Brochu said the change is necessary to sustain its wire drawing business. 'It will allow us to improve our operational efficiency and secure our long-term competitiveness in the demanding wire drawing market,' Brochu said in a press release. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Mike Hnatjuk, president of United Steelworkers Local 5328, which represents workers at the mill, said the U.S. tariffs were 'a nail in the coffin' for the mill that was already facing challenges. U.S. President Donald Trump recently raised steel tariffs on Canada to 50 per cent. Story continues below advertisement Hnatjuk, who expects to begin talks with the company regarding a closure agreement next week, said he's been told the company plans to stop operations by the end of the month. 'We have stuff in our collective agreement that we hope that they're going to follow and they're going to offer and are we most definitely going to try to get what's best for all this,' he said. ArcelorMittal Long Products Canada has more than 2,000 employees with operations at multiple sites in Quebec. The company produces more than two million tonnes of steel that is used in such things as rebar for the construction industry and for leaf springs in light and heavy-duty trucks.
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
‘Tariffs put the nail in the coffin:' ArcelorMittal Long Products Canada closing mill in Hamilton
ArcelorMittal Long Products Canada is closing its Hamilton wire-drawing mill — putting up to 153 local employees out of work amid Canada's trade war with the U.S . In a release , the company announced a 'restructuring' that will consolidate all of its wire-drawing activities in Montreal, a move it said is 'necessary to ensure the sustainability' of the business. The company, a subsidiary of ArcelorMittal North America, makes semi-finished products like billets, slabs, bars and wire rod for industries like telecommunications and construction. The release did not reference the ongoing trade war between Canada and the U.S., or the specific doubling of steel tariffs to 50 per cent on imports to the U.S. just last week. But those punishing tariffs 'put the nail in the coffin,' suggested Mike Hnatjuk, the local United Steelworkers union president for 153 workers at the mill at 690 Strathearne Ave. N. He said some workers were already on a 'temporary' layoff implemented shortly after the first round of tariffs were announced months ago by U.S. President Donald Trump on the steel and later auto industries. 'Our plant really relies on the automotive industry,' he noted. Hnatjuk also said the company told workers it had been losing the equivalent of $3.5 million a year for the last five years. 'They told us even without the tariffs, this maybe could have happened anyway.' The local mill has operated since the 1950s and was once owned by Stelco and known as Stelwire before a bankruptcy prompted the sale of the mill to what is now steelmaking giant ArcelorMittal. Many of the 153 employees — down from a high of 510 in the early 1990s — have worked at the mill for more than 30 years, including Hnatjuk, a former metallurgical department worker. 'We've been through bankruptcies and strike and all sorts of challenges,' he said. 'But even then, I never expected a closure.' The Montreal-based company did not immediately respond to request for comment or an interview. President Stephane Brochu said in a release the consolidation was necessary in a 'demanding wire drawing market' and that the company will 'support and assist' all workers affected by the Hamilton shutdown. 'It is never an easy decision to close a site,' he said. 'First and foremost, all our efforts are focused on supporting the employees affected by this closure.' Hnatjuk said job losses associated with the closure are expected to be 'permanent,' although he added there may be relocation opportunities for workers willing to move to the company's Quebec operations. The union expects to start discussing such details next week as part of a 'closure agreement.' He said local workers also have contractual language around 'preferential hiring' opportunities with other ArcelorMittal subsidiaries, including its best-known and largest local steelmaker Dofasco. 'But that doesn't mean they are guaranteed a job,' Hnatjuk said. Canada's Industry Minister Melanie Joly visited Dofasco — a separate steelmaking facility under the ArcelorMittal umbrella — last Friday to promise new supports are pending for the tariff-battered industry. More to come.
Yahoo
2 days ago
- Business
- Yahoo
ArcelorMittal's Canadian unit to close Hamilton wire drawing mill, lay off 153 workers
(Reuters) -Steelmaker ArcelorMittal's Canadian long products unit said on Wednesday that it was laying off 153 workers as part of a restructuring of its wire drawing activities. The unit's wire drawing mill in Hamilton, Ontario, will be shut down permanently in the coming weeks. Its activities, primarily intended for the telecommunications, construction and automotive markets, will be handled entirely at the Montreal site. This comes after the U.S. hiked tariffs on steel and aluminum imports, effective June 4, for all trading partners except Britain. Canadian companies and a major union last week warned of job losses and lost sales resulting from higher U.S. levies on steel and aluminum, as Canada prepares for reprisals over the metal tariffs. "The restructuring we are announcing today was necessary to ensure the sustainability of our wire drawing activities," said Stephane Brochu, CEO of ArcelorMittal Long Products Canada. Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
2 days ago
- Business
- Yahoo
ArcelorMittal's Canadian unit to close Hamilton wire drawing mill, lay off 153 workers
(Reuters) -Steelmaker ArcelorMittal's Canadian long products unit said on Wednesday that it was laying off 153 workers as part of a restructuring of its wire drawing activities. The unit's wire drawing mill in Hamilton, Ontario, will be shut down permanently in the coming weeks. Its activities, primarily intended for the telecommunications, construction and automotive markets, will be handled entirely at the Montreal site. This comes after the U.S. hiked tariffs on steel and aluminum imports, effective June 4, for all trading partners except Britain. Canadian companies and a major union last week warned of job losses and lost sales resulting from higher U.S. levies on steel and aluminum, as Canada prepares for reprisals over the metal tariffs. "The restructuring we are announcing today was necessary to ensure the sustainability of our wire drawing activities," said Stephane Brochu, CEO of ArcelorMittal Long Products Canada. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
