The Romanian steel processing company Laminorul Braila has halted its production operations until March 2009, citing global economic crisis, which affected the iron and steel industry.
According to Laminorul Braila's trade union leader Constantin Iarca, for the duration of the stoppage, over 300 workers have been sent on leave and are to be paid 75 percent of their wages.
Laminorul Braila was privatised in 2006, and its majority shareholder, with a stake of 75.13 percent, is the Austrian-based company Donau Commodities, specialized in the wholesale trade of steel products and iron ore.