The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture of metals Manufacture of basic metals 24.5 - Casting of metals
257 jobs Number of planned job losses
Announcement Date
29 June 2005
Employment effect (start)
1 July 2005
Foreseen end date
31 December 2005
Description
Oravské Ferozliatinové Závody (OFZ) is the largest Slovak and Central European company producing casting alloys for the steel industry. The company has significant market shares in the European market. The lower demands of its main customers in the Czech Republic (Mittal Steel in Ostrava) and Poland have caused the current cuts in OFZ production. These customers reduced their output by 30-50% in the first half of 2005.
Sources
30 June 2005: Hospodárske noviny
29 June 2005: SME
Citation
Eurofound (2005), Oravské Ferozliatinové Závody (OFZ), Internal restructuring in Slovakia, factsheet number 61811, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61811.
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