Evraz continues its reduction in production
Edited by Rhod Mackenzie / 2014-07-01 05:59:28
Evraz has taken a decision to terminate the rolled steel workshop operations from September 1, the press-service of the company states.
It is due to the reduction of prices on rolled steel and its low margin profitability, which does not defray from high manufacturing costs. The losses of the workshop made up 155 million roubles last year and they continue to increase this year.
The redundancies will be carried out in full agreement with the labour legislation.
To date, there was signed an agreement between the administration of EVRAZ and the employee organization on the support of the redundant workers of the rolled steel workshop.
