ArcelorMittal closing New York state plant

LACKAWANNA, NEW YORK: Steelmaker ArcelorMittal will close its plant in Lackawanna, New York, at the end of April, putting 260 employees out of work.

The Luxembourg company says the closing is in line with global production cuts announced in November in response to reduced demand for steel used in structures and vehicles.

ArcelorMittal says the Lackawanna plant, which was once part of Bethlehem Steel, was at a disadvantage because its distance from customers and suppliers resulted in higher costs than at other ArcelorMittal finishing facilities.

ArcelorMittal employs more than 320,000 people in over 60 countries, including 18,000 at 17 U.S. facilities, making it the world's largest steel company.