ArcelorMittal unable to restart its Kryvyi Rih plant and expects approximately 1 billion dollars in impairment charges
The steelmaker has informed the Ukrainian government that it is unable to safely resume operations of its Kryvyi Rih subsidiary following a series of missile strikes. The group expects to record an impairment charge of approximately 1 billion dollars.
Four missile strikes in five weeks, five deaths and seventeen injured
ArcelorMittal announced on September 25, 2026 that it is no longer able to operate ArcelorMittal Kryvyi Rih, its Ukrainian subsidiary, in a safe and sustainable manner. Following statements published on August 17 and September 14, the group indicates that the site has been targeted by four missile strikes over the past five weeks, the most recent on September 21.
These attacks resulted in five deaths and seventeen injured among employees, one of whom remains in critical condition. They also caused extensive damage to production facilities.
Preserving infrastructure for a potential restart
The group indicates it is discussing the future of the plant with the Ukrainian government and wants to focus on preserving the infrastructure so that production resumption options remain available when peace returns. According to Mauro Longobardo, Chief Executive Officer of ArcelorMittal Kryvyi Rih, the company can no longer operate the site safely.
Since the beginning of the war in February 2022, ArcelorMittal states that it has made the safety and economic security of its Ukrainian employees its priority. The group specifies that it has provided financial support of over 700 million dollars to its subsidiary to ensure continuity of operations.
Impairment charge of approximately 1 billion dollars
ArcelorMittal expects to record a non-cash impairment charge of approximately 1 billion dollars, primarily reflecting the depreciation of the tangible fixed assets of ArcelorMittal Kryvyi Rih.
