100 Years of Steelmaking Come to an End at Czech Mill
09/30/2015 - The owners of an integrated mill in the Czech Republic have ceased its steelmaking operations, but will continue to roll heavy plates.
According to the Prague Post, the move ends roughly 100 years of steelmaking at Vitkovice Steel. The newspaper said the plant has struggled under weak demand and had lost carbon credits.
The move wasn’t a surprise: earlier this year, the group of private investors that owns Vitkovice Steel said it intended to stop making steel because needed investments would be too costly, Reuters reported.
"Closure of the steel works will allow us to further develop the operations of our company," company chairman Dmitrij Scuka said in a statement.
The mill has a capacity of about 1.05 million tons annually. It will now roll semifinished steel sourced from European Union and Russian producers.
The move wasn’t a surprise: earlier this year, the group of private investors that owns Vitkovice Steel said it intended to stop making steel because needed investments would be too costly, Reuters reported.
"Closure of the steel works will allow us to further develop the operations of our company," company chairman Dmitrij Scuka said in a statement.
The mill has a capacity of about 1.05 million tons annually. It will now roll semifinished steel sourced from European Union and Russian producers.
