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 Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.10 - Manufacture of basic iron and steel and of ferro-alloys
90 jobs Number of planned job losses
Announcement Date
10 February 2015
Employment effect (start)
1 January 2015
Foreseen end date
31 January 2015
Description
Oravské Ferozliatinové Závody (OFZ), located in Istebne and a producer of manganese and ferro-alloys, is to decrease production in its plant in Oravsky Podzamok–Siroke. The decline in production has resulted in the cutting of 90 out of the total 450 jobs. These redundancies are due to the increasing export of cheap Ukrainian ferro-alloys to Europe after the crises between Ukraine and Russia. Due to higher energy prices OFZ exports cannot compete sufficiently in this market.
Sources
10 February 2015: Webnoviny
Citation
Eurofound (2015), Oravské Ferozliatinové Závody (OFZ), Internal restructuring in Slovakia, factsheet number 78567, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78567.
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