(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, […]
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ArcelorMittal’s Canadian unit to close Hamilton wire drawing mill, lay off 153 workers
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(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.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Pooja Desai)