Ferroglobe looking to reduce wagesby alanpatrickryan Ferroglobe...

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0	Ferroglobe looking to reduce wagesby alanpatrickryan

Ferroglobe has asked the union at its Boo ferroalloy smelter in Spain to take a 15% cut in employee wages in order to keep the plant operating.


Production of alloys is coming to an end in Europe, its only a matter of time.

"In an environment where energy prices have increased to a critical level in energy intensive industries, it is imperative that the ferro-alloy and silicon sector find solutions in order to continue operating in conditions where its global competitiveness is preserved. In a global marketplace where a true level playing field has yet to come into being, the ferro-alloy and silicon industry faces unprecedented levels of unfair international competition. Smart action is required now in order to ensure sustainable production whilst remaining globally competitive, without which there is a high risk of massive plant closures. Once closed, it is nigh-on impossible for an industrial plant to be re-opened in Europe. This will mean an irreversible loss of know-how and skills, of value and jobs, as well as an increased dependence on third countries."

EU Alloys report 2050