Despite the non-profitability of its business in Ukraine ArcelorMittal is not going to sell its Kriviy Rih works.
According to the AMKR CEO Paramjit Kahlon, if it sells, it would have to forfeit $1.2 billion invested into the company development.
“We’re doing business. Sometimes it brings profits, sometimes not. But if there are such losses, it doesn’t mean we have to drop it. The corporation has spent $1.2 billion. Is there any other foreign company in Ukraine that spends so much? We did not do it to drop it”, said Kahlon.
He believes the world metal crisis won’t last forever.
“Good times are bound to come, I’m sure of it. And then we will not hesitate to raise salary by 15-20%. But now the times are hard. Still the company will try to overcome all the difficulties”, said AMKR CEO. (Ukrainian metal)