National Energy and Utilities Regulatory Office (MEKH) director Lajos Dorkota informed the ‘paper that Vnesheconombank wanted to turn ISD Dunaferr into Central and Eastern Europe’s most competitive steelworks and had signed a contract on the renovation of one of its foundries.
The renovation will ensure 3,500 workplaces remain in Dunaújváros, Dorkota said.
State secretary for employment policy Sándor Czomba confirmed to national news service MTI on Friday that Vnesheconombank was not interested in selling ISD Dunaferr, but in the company’s long-term operation in Hungary. The Russian owner is considering investments that would support the output of products with high added value, Czomba said.
Dunaferr said last August that it would lay off 1,500 of its 5,000 workers, but later reduced the number to 400.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
