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Steel production in SlSteel plantovakia represents the total industrial output. There is no need to elaborate on the fact that the sector is an undeniable asset for Slovakia because it accounts for a certain proportion of Europe’s total steel production.
Slovak businesses are in danger because, on the one hand, the industry plays a crucial role in employment in the region and allows other nations to position themselves internationally.
On the other hand, the challenge the industry is currently facing is the rising cost of energy. Indeed, the topic of energy transition is now on everyone’s lips, resulting in increased costs for businesses wishing to produce using renewable energy in an environmentally friendly manner.
On the other hand, Slovakia is one of the nations where the price of electricity is the highest, a result of a preference for renewable energy in particular. As a result, production costs are expected to rise from all perspectives.
The Slovakia Steel market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
Slovakia Steel Mills (SSM), a small steelworks in Strazske, Slovakia, has declared bankruptcy and plans to lay off additional employees. For maintenance work, the remaining staff members will remain. In later years, the company that makes concrete steel and wire stopped making it. The bankruptcy was then decided by the court.
Dusan Varga, the representative for the trade union, claims that the majority of employees agreed to have their employment contracts terminated, and they were entitled to severance pay.It’s possible that the business will be sold and continue under a new ownership.
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