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The effects of the financial crisis in Romania: Mittal Galati cuts production

de A.C.
Luni, 13 octombrie 2008, 11:54 English | Business

The financial crisis is also felt in Romania: the first unit to announce it was the Mittal Galati factory in South East Romania, the biggest steel producer. The company's leadership declared, in a press release that it needs to cut production for certain goods to avoid an increase of the stocks.

The announcement confirms the rumours according to which the factory is getting ready to reduce its activity in steel production and temporarily cut production and suspend contracts or redistribute and even fire some hundreds of employees due to the decrease of sales.

The measures to cut production would also include several sectors, Radio Romania Actualitati informs.

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