Archive for November 24th, 2008
A North American view on the crisis in the steel industry from Associated Press
excerpt from an article by Daniel Lovering
Just weeks after posting record profits, steel makers are facing a harsh new reality: dwindling orders, production cuts, layoffs. And tougher times lay ahead, analysts say.
The steel industry had been riding high earlier this year, as surging demand from China and other countries, coupled with soaring prices for materials [...]
Posted: November 24th, 2008 under Steel, Steel Comment, Steel International, Steel News.
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Global crisis scares parent Tata
An interesting article on Tata at the Business Times Online
Tata have grown massively in the last couple of years, including a couple of high profile acquisitions in Europe with Corus and Jaguar Landrover.The ferocity of the worldwide downturn in business has clearly hit them hard.
Excerpt
Few companies in India have been more rattled by the global [...]
Posted: November 24th, 2008 under Steel, Steel News.
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Steelmaker warns up to 2,444 layoffs at Ind. plant
As many as 2,444 employees at ArcelorMittal’s steel plant could be laid off indefinitely in January, the company said.
The company has notified the United Steelworkers and other stakeholders about the possibility of an "indefinite layoff" at the Porter County plant beginning in the second half of January, ArcelorMittal announced Friday.
The recent drop-off in global [...]
Posted: November 24th, 2008 under Steel, Steel News.
Comments: none