Železiarne Podbrezová investing €17m this year

Steel pipe firm Železiarne Podbrezová (Vladimír Soták) is investing €17m in modernization this year, €1m less than last year, even though it lost €45m over the past two years and expects another loss this year. Management expects a recovery in a market that much of the competition has exited. One of the investment projects was a new ladle furnace transformer bought from Chinese firm Shenda EG. The Chinese firm made it in six months, while European suppliers quoted lead times of 24-29 months.

(hnonline.sk)