Arcelor initiates massive redundancy program
The firm was initially announcing limiting production by 15 percent, but now it is mentioning a figure as high as 30 percent. According to Frank Schulz, president of Arcelor Mittal Europe, which incorporates AMP, the Polish plants will feel the crisis acutely due to low competitiveness of products and high prices of raw materials.
The firm has already shut down its two large furnaces in Kraków and Dąbrowa Górnicza. "But we do not know whether this will be sufficient. December in general is a poor month so we should expect a further drop in orders," said Gregor Muenstermann, president of AMP.
The management board of AMP hopes that all planned savings will amount
to euro 300 million annually.
Source: Puls Biznesu (M.M.)
The firm has already shut down its two large furnaces in Kraków and Dąbrowa Górnicza. "But we do not know whether this will be sufficient. December in general is a poor month so we should expect a further drop in orders," said Gregor Muenstermann, president of AMP.
The management board of AMP hopes that all planned savings will amount
to euro 300 million annually.
Source: Puls Biznesu (M.M.)
