Corus will shut down its electro-zinc line in September

Corus will shut down its electro-zinc line in September

Anglo-Dutch steel maker Corus announced that the electro-zinc coating line in Shotton works in North Wales will be closed by the end of September 2003. Corus stated that this action, deriving from the aim to concentrate on products and markets which will bring value to the company, will end up with 95 job cuts. According to market reports from the industry, the decline in demand for electro-zinc in Europe and UK, respectively over 20% and 30%, together with the overcapacity problem in Europe surely had its impact on this desicion Corus has taken. Having said that, automotive industry that shifted from electo-zinc to hot dipped galvanized steel was another factor. However, with a 4 million £ investment, Corus is creating 200 new job opportunuties at Shotton, hoping that employees to be affected from the job cuts can be moved to this new business.