14th Oct 2013 14:32
LONDON (Alliance News) - Evraz PLC Monday said its subsidiary Evraz North America has suspended operations at its Claymont steel mill in Delaware, US, following subdued market demand and high import volumes.
The global steel mining business said that over the next two months, 375 employees will complete processing and shipping of existing products, as Evraz considers restarting as soon as market conditions improve.
Evraz said that it doesn't expect any adverse financial effect on its operations in North America as a result of the decision and customers of the Claymont mill will be served by other Evraz facilities.
The company said that all of the mill's employees, with the exception of a small crew who will remain to maintain the site, have been issued a worker adjustment and retraining notification.
Evraz shares were up 1.5% to 130.80 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Evraz