World & BusinessArcelorMittal to book about $1 billion charge as Russian strikes shut Ukraine plant
The Economic Times reports that the company announced a non-cash impairment charge tied to missile damage at its Kryvyi Rih operations. ArcelorMittal plans to prioritize preserving infrastructure.
TLDR
The Economic Times reports that ArcelorMittal announced an approximately $1 billion non-cash impairment charge after repeated missile strikes damaged its Kryvyi Rih operations in Ukraine. The company has supported the unit with more than $700 million since the conflict began. It will prioritize preserving infrastructure while discussing the plant’s future with the government, and hopes to explore options for resuming production once peace is restored.
ArcelorMittal to book about $1 billion charge as Russian strikes shut Ukraine plant
The Economic Times reports that the company announced a non-cash impairment charge tied to missile damage at its Kryvyi Rih operations. ArcelorMittal plans to prioritize preserving infrastructure.