Due to sluggish demand in the steel market, Austrian steelmaker Voestalpine decided to temporarily close its Rotec plant in Krieglach, Austria and would stop sales for one week from October 7th.
The Krieglach plant produced up to 35,000 tons of precision steel pipes and fittings per year, most of which were used in the automotive industry.
In addition to the suspension of sales, one of the production departments of the plant has ceased operations since the end of September, and around one-third of the employees have been forced to be on leave.
Although the company planned to fully resume operations on October 14th, it has decided to take further measures to cope with the current weak market conditions.
Source from Yieh Corp |
