Dunaferr chief-executve warns of further cost-cutting measures
Dunaferr will continue and expand its cost cutting programme, adding new austerity measures if necessary, Evgeny Tankhilevich, the CEO of Hungary-based steel manufacturer ISD-Dunaferr, said on Wednesday at a press conference in Budapest.
Tankhilevich said it must be understood that Dunaferr is fighting for survival.
Expecting a market recovery, the Dunaújváros-based steel manufacturer will finish its critical investments, required for its survival, he added.
The CEO said that in a few years some European nations will lose their steel manufacturing capacity, prompting the Hungarian government to decide on the fate of Hungary's steel industry.
The company is collaborating with the government and those concerned in the mid-to-long term development plans, Tankhilevich added.
