ArcelorMittal has announced its decision to sell its Bosnian operations, specifically ArcelorMittal Zenica and ArcelorMittal Prijedor, to Pavgord Group. This decision follows a strategic review by the company, which determined that selling these assets would be beneficial for both the business and its employees.
As part of the transaction, all current employees will have their jobs transferred to Pavgord Group. The company anticipates recording a non-cash loss on disposal of approximately $0.2 billion, factoring in foreign exchange losses recorded since acquiring these assets.
The sale is expected to finalize in the third quarter of 2025, pending necessary merger control clearance and fulfillment of conditions precedent. Until then, operations will continue as usual with support from local management and company leadership.
Sanjay Samaddar, Vice President at ArcelorMittal and CEO of ArcelorMittal Europe – Long Products stated: “ArcelorMittal acknowledges the support of the government of Bosnia and Herzegovina, and the government of the Federation and Republika Srpska, during the 21 years that the company has been operating in the country. We believe the company will continue to be a major contributor to the economy of Bosnia and Herzegovina. 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.”
