Despite investments and efforts to keep both branches, ArcelorMittal said it concluded after a strategic review that selling them is the best solution for the development of the business and its people. 

“We thank all our employees at ArcelorMittal Zenica and ArcelorMittal Prijedor for their hard work and passionate engagement during all these years and wish them all the best for the future, as well as to Pavgord Group in this new phase,” said Sanjay Samaddar, vice president of ArcelorMittal and chief executive officer of ArcelorMittal Europe — Long Products. 

ArcelorMittal’s shares in both ArcelorMittal Zenica and ArcelorMittal Prijedor will be sold to Pavgord Group. All employees’ jobs will also be transferred to the new owner. The company said it expects to record a noncash loss on disposal of about US$200 million. 

ArcelorMittal said all operations of the company will continue as usual with the full support of both the local management team and company leadership team until the deal closes. It is expected to close in the third quarter of 2025, subject to merger control clearance and fulfillment of all conditions.