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Switzerland - Latest news GMK Center

Photo – Switzerland insists on exemption from EU trade barriers on steel
Switzerland insists on exemption from EU trade barriers on steel

The country notes that its steel industry does not contribute to the global excess capacity

Photo – Swiss government offers assistance to steelmakers
Swiss government offers assistance to steelmakers

In March, the retroactive introduction of transitional support was announced

Photo – Switzerland approves state aid to the steel sector
Switzerland approves state aid to the steel sector

Four enterprises will be exempted from part of the electricity grid usage fee for 4 years

Photo – Swiss Steel to cut 800 jobs amid weak demand
Swiss Steel to cut 800 jobs amid weak demand

The cuts will primarily affect European production sites and the sales organization

Photo – The Swiss steel industry is in crisis
The Swiss steel industry is in crisis

The country's steel enterprises are facing financial problems

Photo – Switzerland has added guidance on sanctions against Russian steel
Switzerland has added guidance on sanctions against Russian steel

The country clarified which documents will be considered as proof of the country of origin

Photo – Swiss Steel reduced sales by 19% y/y in the first half of 2023
Swiss Steel reduced sales by 19% y/y in the first half of 2023

The company's sales revenue decreased by 13.4% year-on-year

Photo – Benteler Steel/Tube will close its pipe plant in Switzerland by the end of 2023
Benteler Steel/Tube will close its pipe plant in Switzerland by the end of 2023

One of the reasons was the unfavorable market situation

Photo – Switzerland will allocate ₣100 million for the urgent restoration of Ukraine’s energy sector
Switzerland will allocate ₣100 million for the urgent restoration of Ukraine’s energy sector

The funds will be directed to mitigating the consequences of winter for the population of Ukraine

Photo – Switzerland’s Stahl Gerlafingen to reduced working hours
Switzerland’s Stahl Gerlafingen to reduced working hours

Due to the increase in electricity tariffs, the steel plant will reduce the working hours of employees