Oravské Ferozliatinové Závody (OFZ)

Type
Internal restructuring
Country
Slovakia
Region
Slovensko;
Location of affected unit(s)
Oravsky Podzamok, Siroke
Sector
Manufacturing
(24 - 25) Manufacture of metals
24.1 - Manufacture of basic iron and steel and of ferro-alloys
24.10 - Manufacture of basic iron and steel and of ferro-alloys
90 jobs
Number of planned job losses
Job loss
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://apps.eurofound.europa.eu/restructuring-events/detail/78567.