Company News, 2005-06-30, 10:30 AM
ThyssenKrupp Stainless to cut back production in Europe
ThyssenKrupp Stainless will reduce production of stainless steel at ThyssenKrupp Nirosta GmbH, Germany and ThyssenKrupp Acciai Speciali Terni S.p.A., Italy by a total of around 120,000 metric tons in the 3rd quarter 2005. This approximately 20 percent cutback in quarterly capacity will mainly relate to cold-rolled stainless strip and will affect both companies to roughly the same extent.
The production cutback is ThyssenKrupp Stainless?s response to the imbalance in supply and demand for stainless flat products. To minimize the impact on employees, systematic use will be made of existing flexible working time arrangements. Shutdowns at both companies will be used to carry out extensive maintenance and investment measures.