Oct 24 2003
AvestaPolarit, a subsidiary of Outokumpu will close its stainless steel operation in Panteg, Wales at the end of March 2004 due to poor financial performance over the last few years.
The facility possesses cold rolling facilities and specialises processing of ferritic stainless steels. Their annual capacity was of the order of 30,000 tonnes, accounting for only 2% of AvestaPolarit’s total coil output.
The closure will affect 116 employees at Panteg, and a further 20 jobs at the company’s Sheffield site.
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