Brazil pig iron producer Vetorial announced this week it will close its Ribas do Rio Pardo plant, in the state of Mato Grosso do Sul, according to media reports.
The decision is a result of a weak performance in the local pig iron market, reports said. “Unfortunately, the situation of the pig iron market in Brazil and in the world just got worst. We’re not being able to sell pig iron,” said Gustavo Trindade, owner and director at Vetorial.
According to reports, about 195 employees were laid off.
Vetorial produces mainly iron ore and pig iron, among other products.