One of Hungary’s Biggest Industrial Firms Faces Insolvency
- 13 Dec 2022 9:39 AM
- Hungary Matters
DK lawmakers have demanded immediate government intervention to rescue troubled steelmaker ISD Dunaferr in Dunaújváros, in central Hungary.
László Kordás, deputy mayor of the city, told a press conference that “we are in the twelfth hour,” concerning the plant’s future.
He called on the government to set up a fund to cover the full wages of the plant’s employees and payments to suppliers.
Zsolt Mezei, another deputy mayor of the city, said “it turned out last week that Dunaferr can only pay a part of the employees’ wages and it might turn out this week that the company has to be shut down for good”.
He said Dunaferr, one of Hungary’s biggest industrial companies that employs some 4,500 people, was in “such a situation because the government has failed to provide any support”.
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