Italian steel producer Marcegaglia Group has discussed the situation in its core steel production business and in its diversified operations at a recent meeting with trade unions.
Marcegaglia stated that in the last two years it has increased employment levels by 130 jobs and has invested €600 million. Thanks to these strategic choices and despite the crisis hitting the steel industry, Marcegaglia estimates that its steel shipments volume in 2012 will fall by only two percent compared to an eight percent fall in European steel demand.
Marcegaglia also announced it will cut temporarily some jobs at its Pozzolo Formigaro and Boltiere plants, operating in construction steel fabrication and pipe production. Moreover, the group stated it will increase its focus on its core steel business activity in order to reorganize its structure in light of the current challenging market environment.
Marcegaglia’s planned restructuring will included the closure of San Lorenzo in Campo-based BVB and Fontanafredda-based IMAT, which are subsidiary companies operating in the manufacture of components and integrated systems for the refrigeration and household appliance sectors.