AvestaPolarit reschedules closure of Degerfors unit

AvestaPolarit reschedules closure of Degerfors unit

The Finnish steel producer AvestaPolarit has undertaken a review to reschedule the phasing out the longs production at its Degerfors Stainless unit. It was initially scheduled to close the meltshop by summer 2003 however; same is now postponed to September 2003. As previously scheduled, the rolling mill will continue its operations for some while after the closure of the meltshop. By the end of June a firm date will be fixed for closure of the rolling mill. AvestaPolarit plans to transfer the longs production to its Sheffield meltshop where it has been making investments since 2002. The closure of Degerfors meltshop is delayed as the installation of the billet caster at the Sheffield meltshop proceeds behind schedule. AvestaPolarit is also building the hot rolled plate business process in Sheffield, aiming to develop and expand its operations at the site.