Hungary's Dunaferr To Renew Foundry, Save Jobs
- 10 Feb 2014 8:00 AM
Dunaferr’s owners do not wish to sell the company but will not lay off any more workers, as they will instead modernise a foundry at the Dunaújváros steelworks. Vneshekonombank executives repeated while in Hungary last week that they do not want to sell the steelworks, because the company is a good one and they want to develop it into an important regional company.
The modernisation of the foundry will be completed by August 20, the Russian bank said.
As a result, the foundry’s life will be extended and there will be fewer layoffs than announced earlier, Népszabadság adds.
Source: Hungary Around the Clock
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