Last aluminium furnace closes down

The aluminium furnace in Inota, Veszprém county, ceased production yesterday after 53 years of operation. Hungary's last functioning aluminium furnace had to be closed down for business considerations, said Géza Csathó, deputy CEO of Magyar Aluminium Rt. As a result, 290 employees will be dismissed.

Csathó explained that the company could not expect a return after the required environmental modernisation project. In addition, he said, electricity prices are rising and the dollar is weak.

Aluminium production will not cease entirely. Aluminium waste and imports will continue to be processed, keeping 346 jobs.

The above story is just one of more than two dozen published today by Hungary Around the Clock, the most comprehensive source of daily English-language news about Hungary. For a free trial of HATC, click here. Hungarian news sources include Népszabadság; Magyar Hírlap; Világgazdaság; Napi Gazdaság; Magyar Nemzet; Népszava; Kossuth Rádió news and Hungarian television's nightly news broadcast.

• Email
• Save to My Caboodle