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Outokumpu company contemplates entry into Romania

Finnish company Outokumpu, maker of steel and stainless steel, intends to extend its activity to Eastern Europe, viewing, in particular, the markets in Romania and Poland, due to lower costs there with the manpower, write Finnish newspapers, quoted in the Thursday issue of economic daily Business Standard.

Outokumpu, the fourth largest stainless steel company, at global level, wishes to challenge Arcelor Mittal, Acerinox and ThyssenKrupp, by its extension to Eastern Europe, ' said general manager of the firm Juha Rantanen, quoted by the press. According to the official, the company will open a service center in Poland, and 'it is much interested to operate in Romania.'

Enlargement to eastern Europe could be a variant, with Outokumpu having announced, early this week, that it will lay off around 1,500 employees from Finland and Sweden, and it could annul or delay several investments, in consequence of the effects of the financial crisis on the company's business. Currently, the steel maker employs some 8,000 people in 30 countries.

On the relevant market in Romania, operating is world leader in steel processing Arcelor Mittal, which holds two steel mills, one in Galati, eastern Romania, and the other one in Hunedoara, center, and two pipe plants, in Roman, east, and Iasi, east.

In the context of the current financial crisis, the redundancies announced by the companies in Galati are higher than 630 in a few days only. Although it has announced a fall in production, following lower demand at international level, the management of the plant in Galati, employing some 13,600 people, does not take into account the variant of collective redundancies.

Another company in the field is Otelinox, in Targoviste, southern Romania, which is making bands and tins of stainless steel, used in almost all the industrial sectors. Since the end of last week, almost 95 percent of the employees of Otelinox are on technical unemployment, with the measure taken in the conditions of a fall in orders. Union leader from Otelinox Dumitru Paraschiva said that from the 890 employees of the company, only five percent are working, and at the end of November, a decision will be make if activity is resumed next month.

 

Sursa: http://www.rompress.ro

Tags: steel romania company outokumpu

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