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Malfunction of EFS Meltshop2 Transformer

26th Nov 2024 14:49

RNS Number : 7368N
EZZ Steel Company - S.A.E.
26 November 2024
 

 

EZZ Steel Company - S.A.E.

Cairo, 26 November 2024 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD),

 

Ezz Steel advises that the transformer of meltshop No. 2 of Ezz Flat Steel Company (EFS), Suez, a subsidiary, suffered a major malfunction.

 

The manufacturer was immediately contacted; in view of the initial technical evaluation, the repair period is expected to extend for approximately 9 months. The insurance company has been notified that, as a consequence, meltshop No. 2 operations have been suspended.

 

EFS will alternate meltshop No. 1 between slabs and billets casting to produce flat steel and rebars respectively, according to market demand.

 

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