April 26 (SeeNews) - Bosnian manufacturer of long steel products ArcelorMittal Zenica, part of Luxembourg-based steel manufacturer ArcelorMittal, has closed down its coke factory, local media reported.
The company will relocate around 15% of the factory's workforce, consisting of 200 employees, to other departments, news portal Biznis Info reported on Thursday.
ArcelorMittal Zenica announced the closure of the coke plant in March after making losses due to the low price of steel on the global market.
In November, ArcelorMittal Zenica stopped production for two months due to the unfavourable conditions prevailing on the steel market.
ArcelorMittal has another unit in Bosnia, ArcelorMittal Prijedor, which operates an iron mine. ArcelorMittal holds a 51% stake in the mining company, whereas Bosnian miner RZR Ljubija holds the remaining 49% stake.