{"id":7032,"date":"2012-01-13T20:41:07","date_gmt":"2012-01-13T18:41:07","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-1-arcelormittal-safrica-newcastle-plant-resumes-output\/"},"modified":"2012-01-13T20:41:07","modified_gmt":"2012-01-13T18:41:07","slug":"update-1-arcelormittal-safrica-newcastle-plant-resumes-output","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-arcelormittal-safrica-newcastle-plant-resumes-output\/","title":{"rendered":"UPDATE 1-Arcelormittal SAfrica Newcastle plant resumes output"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details, quotes, background)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 13 (Reuters) &#8211; ArcelorMittal South<br \/>\nAfrica, a unit of the world&#8217;s biggest steelmaker<br \/>\n, resumed full production at its Newcastle plant that<br \/>\nwas hit by a furnace failure last year, the company said on<br \/>\nFriday.<\/p>\n<p><span><\/span><\/p>\n<p>The furnace failure had impacted an already subdued outlook<br \/>\nfor the company and ArcelorMittal had to source steel from<br \/>\nexternal sources to minimise the impact on its customers.<\/p>\n<p><span><\/span><\/p>\n<p>Higher electricity, raw material costs and weaker sales<br \/>\npushed the company into a third-quarter loss, but the steelmaker<br \/>\nhad forecast some improvement for the last three months of last<br \/>\nyear.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The Newcastle plant resumed full production on Dec. 9,<br \/>\n2011. The company is working hard to eliminate the sales backlog<br \/>\nas soon as possible,&#8221; the company said.<\/p>\n<p><span><\/span><\/p>\n<p>The steelmaker said the insurance claim was still estimated<br \/>\nat 1.1 billion rand ($136.24 million).<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;After a deductible amount of 160 million rand was taken<br \/>\ninto account the company received an interim payment of 490<br \/>\nmillion rand in December,&#8221; it added.<\/p>\n<p><span><\/span><\/p>\n<p>Shares in the company were down 0.80 percent at 67.90 rand<br \/>\nby 1457 GMT, compared with a 0.39 percent fall in the JSE Top-40<br \/>\nindex of blue chip companies.<\/p>\n<p><span><\/span><\/p>\n<p>($1 = 8.0743 South African rand)\t<\/p>\n<p> (Reporting by Agnieszka Flak)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details, quotes, background) JOHANNESBURG Jan 13 (Reuters) &#8211; ArcelorMittal South Africa, a unit of the world&#8217;s biggest steelmaker , resumed full production at its Newcastle plant that was hit by a furnace failure last year, the company said on Friday. The furnace failure had impacted an already subdued outlook for the company and ArcelorMittal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7032","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7032"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7032\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}