Italy’s AST extends summer shutdown on weak market
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Update time : 2023-07-07 17:15:53
Acciai Speciali Terni (AST), a stainless steel manufacturer in Italy, decided to suspend production during the period from July 19 to August 23 from the traditional summer shutdown of August 7 to August 20, in response to higher production cost, low steel prices, and weak sales.
During the downtime, AST will carry out machinery maintenance in the various production areas.
The company has been doing layoffs since the beginning of May due to the persistent lack of orders, and this wave of layoffs will involve up to 2,210 employees including managers, workers, and white collars, for a period of around three weeks (from July 19 to August 7 and from August 20 to 23).
