A critical evaluation of the success factors during the ArcelorMittal Saldanha Works turnaround

TL;DRAbstract

The 2008/2009 economic downturn had a major impact on the international steel industry. With economic activities declining, the demand for steel decreased and subsequently, prices started to tumble. This put a great deal of pressure on steel manufacturing companies’ financials and they had to focus on cost reduction initiatives to survive. Steel companies who did not follow a turnaround strategy were not able to keep up with the competition. This research study focused on determining the details pertaining to the ArcelorMittal Saldanha Works turnaround strategy, as it is viewed as one of the most successful in the steel industry. Data was obtained from discussions with various role players and managers at ArcelorMittal Saldanha Works. The aim of the interviews was to get the detail of all the steps taken by the company to turn around its performance. Quantitative data describing the operational as well as financial and cost performance was sourced from the ArcelorMittal Saldanha Works

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