Switzerland-based steelmaker Stahl Gerlafingen, a part of Italian merchant bar producer Beltrame Group, will shut down one of its two production lines at Gerlafingen at the end of this month, according to local media reports.
After comprehensive consultations and consideration of various options, the board of directors has decided to go ahead with the closure in order to previous further financial losses of the already loss-making company. The closure decision will impact up to 95 employees.
As SteelOrbis reported previously, the Swiss company has been considering this option for several months. The company said that wide flat steel production in Switzerland is no longer profitable due to high energy costs and unfair imports coming into the EU, with which Switzerland has a free trade agreement. Thus, imports from the EU to the country are possible without restriction and this causes a major price war.
