The Spanish stainless steel producer Acerinox, S.A. has announced that it has extended the 50 percent reduction in working hours for most workers at its Campo de Gibraltar factory up to April 30, 2010.
This measure, which will affect 1,754 employees out of a total workforce of 2,293 at the plant in question, is the extension of a similar measure in force during 2009, though in practice the number of worked hours has been significantly higher than the official 50 percent minimum reduction.
"Staff reductions have not been requested, like the proceedings in force during the year 2009, because there is trust in a market recovery," reads the company's statement.
In addition, Acerinox has also decided to extend the same working regime as at Campo de Gilbraltar at its Ponferrada-located subsidiary Roldan, but up to the end of 2010.
As regards the future, Acerinox has said that in 2010 it expects an increase of between six to ten percent in demand and, therefore, a recovery of market conditions.