Austria-based steel maker, Voestalpine plans to temporarily curb production amid COVID-19 outbreak and weak demand, said a company release.
The company plans to implement short-time work policy in the wake of coronavirus outbreak. In the event of pandemic, supply chain disruption and slump in demand, the company contemplates which production units can continue to operate in compliance with the safety measures imposed by the authority and which units need to cut down operations. This includes curbing pig iron output by 20pc at Linz facility by temporarily stopping a small blast furnace.
Production, plant maintenance and other operationally critical areas continue to be operational till further notice.
Voestalpine is one of the leading steel-based technology groups. It is active in steel, automotive, railways, aerospace and consumer goods.