Archive for December 8th, 2008
Swedish Steelmaker SSAB to axe 1,300 jobs
Swedish specialty steel maker SSAB said on Monday it would cut 1,300 staff as part of a programme to save at least 1 billion Swedish crowns ($122 million) in annual costs.
The company, which last month warned that demand had dropped suddenly, said the programme would cost 550 million crowns, with much of the financial impact [...]
Posted: December 8th, 2008 under Steel International, Steel News.
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UK car parts firm jobs threatened
The UK arm of leading European car parts business, Wagon Automotive, looks likely to go into administration.
A last-minute bank refinancing deal to tide it over the next few months is understood to have fallen through.
Birmingham-based Wagon Automotive employs 500 workers in the West Midlands and supplies parts to Ford, Honda, General Motors and Nissan. [...]
Posted: December 8th, 2008 under Manufacturing News.
Comments: 1
Corus to seek state aid to avoid redundancies
Steel will become the latest industry to seek state support from ministers as Gordon Brown is on Monday lobbied for millions of pounds of state aid by Corus, one of the UK’s largest employers.
Philippe Varin, chief executive of the Anglo-Dutch steel group – owned by India’s Tata Steel – is one of several business [...]
Posted: December 8th, 2008 under Steel, Steel News.
Comments: none