UNDICTATED: Why steelmaker AMSA forced into 35% downsizing. Hint: Eskom, Transnet.
This week’s shock announcement that South Africa’s dominant but loss-making steelmaker Arcelor Mittal is cutting its 10,000 workforce by 35%…
This week’s shock announcement that South Africa’s dominant but loss-making steelmaker Arcelor Mittal is cutting its 10,000 workforce by 35%…
NEASA’s Gerhard Papenfus joined BizNews to discuss why he says “government’s continued protection of ArcelorMittal SA is just another ideological blunder.”Â
SAA, the beleaguered state-owned airline has started a restructuring process that could see its workforce cut by almost a fifth, says Bloomberg.
South Africa is considering imposing emergency tariffs on some iron and steel imports, shows a filing to the World Trade Organization.
Trade union Solidarity urged Sasfin Bank to pay back the R35 million that Highveld Steel had to pay the bank in the form of a fine last year.
Gideon du Pleesis says an anti-South African political agenda and greed resulted in the lives of thousands of workers and their dependents being wrecked and the destruction of Highveld Steel.
The business rescue team at Evraz’s distressed South African unit is considering closing the steelmaker’s operations, placing more than 2,100 jobs at risk.
Corrosion-resistant steel imports from China were sold at unfairly low prices and will be taxed at 256 percent, according to a preliminary finding of the U.S. Department of Commerce.
Alec Hogg says contrary to popular opinion, the ANC is showing it is not prepared to sacrifice local steel industry on the altar of Chinese friendship.
It’s just what global producers of steel and aluminum didn’t need: a yuan devaluation that make the flood of exports from the world’s biggest producer even cheaper.