Poland’s Alchemia to start liquidation process of Rurexpol branch due to worse European steel industry
Views : 25
Update time : 2024-11-08 16:40:59
As the situation in the European steel industry deteriorates, the board of directors of Boryszew SA, a Polish industrial group, said its subsidiary Alchemia SA would initiate the liquidation process of the Rurexpol branch in Częstochowa.
Alchemia pointed out that the deterioration of the situation in the European steel industry will make Rurexpol lose its market competitiveness with lower demand for the company's products. Besides, backward production technology and the high cost of maintaining production activities are also the reasons for the decision.
By February 2025, nearly 260 people will lose their jobs due to the liquidation of the Rurexpol branch, according to trade unions.
Rurexpol is a manufacturer of seamless pipes with a basic diameter of 121-273 mm, primarily used for transporting and extracting crude oil and natural gas. The company also produces alloy and structural tubes applied in the power and energy industry.
Shanghai Metals Market repeats witness on aluminium and alumina prices going opposite directions
Aluminium prices rise across the board on SMM, defying previous week’s declining trend
