Core Points - AMSA announced the gradual shutdown of its long steel business starting from the 1st of the month due to ongoing losses caused by low-priced imports and weak domestic demand [1] - The company received a loan support of 1.68 billion Rand from the IDC, which provided a six-month operational buffer to seek solutions [1] - CEO Kobus Verster stated that structural issues remain unresolved despite negotiations with the government and stakeholders, with rising electricity costs and deteriorating transport systems continuing to constrain operations [1] Employment Impact - The company directly and indirectly employs approximately 3,500 workers, and the shutdown will affect thousands of jobs in the upstream and downstream supply chains [2] - Trade unions have warned that the shutdown will have severe impacts on local workers and their families, with NUMSA labeling it a "socio-economic disaster" [2]
南非钢铁巨头宣布关停长材业务
Xin Hua Cai Jing·2025-09-04 00:43