22.2.13
Sidenor has announced that the production line of its subsidiary metallurgy factory SOVEL will be shutting down. Due to the financial crisis orders for construction materials have dropped dramatically, so the firm decided to temporarily cease operations and take advantage of stock.
Sales and the supply of scrap will continue as normal during this brief break in operations. The firm’s intentions are to resume operations on Monday the 1st of April. Sidenor clarified that the decision will not affect SOVEL’s financial record, or the Sidenor Group, since they have no problems serving customers.
About 50 million euros have been invested in the SOVEL factory over the past four years, with management considering further investments and additions in order to increase competitiveness.
