The new structure will be headed by the group’s Vice President, Thierry Le Gall, and will include the activity of two other units, in Macedonia and Turkey, the company announced.
Kochuparampil has run ArcelorMittal Galati for the past two and a half years, during which time the company grew in terms of net sales to some RON 7 billion ($2.85 bln) in 2007 from RON 6 bln ($2.17 bln) at the end of 2006. The profit doubled in 2007, to RON 324.7 million ($133 mln). The number of employees was cut to some 13,600 in 2008 from 15,825 in 2006.
The global financial crisis has affected this industry sector, leading to a drop in international demand, from countries such as China and India, and to a decline in the price of steel. As a result, Romania’s largest steel producer announced last fall that it will cut production due to the crisis.
