Reportedly, Belgian Oxybel, the Belgian coil and plate processor and distributor 100% owned by ArcelorMittal, has announced to shutdown at its site in l'Ile Monsin, near Lige because the lack of demand and weak market conditions at this moment.
Currently, the company has about 35 employees which cut back from 110 workers in 2010.
However, Oxybel is good at decoiling and shearing sheets and heavy plates for international clients.
In the meantime, the company also indicated the trimming and oxy-cutting operations are set to be completely closed and the sawing operations will expect to be sold to other party according to the company said.