Acerinox reduces production capacity of its steel plant in Spain

Acerinox Group, a global manufacturer of stainless steel and high-strength alloys, has announced a reduction in production capacity at its metallurgical plant in Los Barrios (Cadiz, Spain). This is stated in the company’s press release.

The group’s Spanish plant will operate in three shifts instead of five. The main reasons are unfavorable market conditions and financial performance in recent years, as well as the need to introduce a new organizational and production model at the plant.

The company is committed to negotiating a collective bargaining agreement and assessing the impact on current workforce levels that may result from the introduction of a three-shift organizational model.

Acerinox also announces the shutdown of the Bahru Stainless plant in Malaysia. From now on, deliveries to customers will be made from other plants of the group.

Earlier, Acerinox was considering a temporary shutdown of the Spanish plant due to ongoing strikes by workers. The company’s employees were protesting over disagreements over a proposed new collective bargaining agreement.

In 2023, Acerinox achieved a record EBITDA of €703 million, with revenue of €6.6 billion and net profit of €228 million. The company achieved good results thanks to improvements in recent years and the strategic success of entering the high-performance alloys sector.