New "LUX2029" agreement signed to secure the steel industry's future in Luxembourg

Following a negotiation process initiated on 1 October 2025, a new agreement to secure the future of ArcelorMittal in Luxembourg, "LUX2029", has been signed by all parties involved. The related conclusions of the Steel Industry Tripartite Coordination Committee were jointly signed by the Minister of Labour, Marc Spautz, the Minister of the Economy, SME, Energy and Tourism, Lex Delles, the Minister of Finance, Gilles Roth, ArcelorMittal management, as well as the LCGB and OGBL trade unions, during the meeting held on 20 March 2026.

The steel industry is a major pillar of European industrial sovereignty, supplying essential industrial sectors such as automotive, energy, construction and defence.

The Luxembourg steel industry has been under pressure for some time, notably due to raw material prices and low-cost imports into Europe, while the geopolitical and macroeconomic environment has only worsened the situation.

As a result, to build a long-term future for the business in Luxembourg, the ArcelorMittal Group intends to make significant and necessary investments, while - as previously announced - also adjusting its internal organisation and fixed cost structure in order to improve its competitiveness. Luxembourg will remain the headquarters for ArcelorMittal, the construction of the new building continuing apace.

Covering the years 2026 to 2029, the new agreement provides that ArcelorMittal will invest at least €290.5 million, and up to €334.5 million, in key projects aimed at developing all of its production sites to ensure the long-term viability of its plants of which €44 million will be dedicated to the maintenance of existing equipment. In addition, the parties will endeavour to carry out the renovation and modernisation project of "Train 2" in Belval, a major initiative currently in the preliminary exploration phase.

As part of the increased digitalisation of steel production and business processes, the creation of a cybersecurity centre of excellence to support global operations, as well as joint studies with academic and research institutions in the field of advanced technologies, are also planned.

Furthermore, the creation of a "Maintenance Academy", a training centre dedicated to professions related to the maintenance of industrial production tools, is currently under consideration. Its objective is to promote skills development and the sustainability of expertise, while creating bridges between education, industry and employment.

Due to approx. 300 FTEs (full-time equivalents) more than the current and future business demands, measures including early retirement and pension schemes, short-time working, voluntary departures, internal transfers as well as natural attrition will be implemented. As part of the restructuring process, a redeployment unit will be set up to support these employees with several options mentioned above.

Comprising representatives of management, the trade unions who are signatories to the agreement, members of the staff delegation and the Ministries of Labour, Economy and Finance, two monitoring committees will be established to accompany the evolution of investments and staffing levels, as well as the implementation of the various measures adopted during the period concerned. These committees will be chaired by the Minister of the Economy, SME, Energy and Tourism and the Minister of Labour or their delegates.

Press release by the Ministry of the Economy, the Ministry of Labour, the Ministry of Finance, ArcelorMittal Luxembourg, LCGB and OGBL