Spanish special steelmaker Sidenor says it is halting production at the rolling mill at its Reinosa plant in northern Spain. The measure is effective from 26 September, Kallanish notes.
Last Friday, the company’s management held an extraordinary meeting with representatives of the workers’ council to inform them that 16 of the 138 workers on the production line will be affected by the decision. They will however be relocated to other facilities, without the need to apply the so-called temporary employment regulation – ERTE.
“The reason for the production cut is based on the soaring energy prices. Electricity has grown 153% since last year, while gas did so by 521%,” Sidenor says.
The rolling mill produces special steel bar for the automotive sector.
Todor Kirkov Bulgaria