(RTTNews.com) - Ferroglobe PLC ( GSM ) said that it plans to suspend production operations at the Company's Niagara Falls, NY facility by December 30, 2018. Its impending stoppage impacts 100 employees. The Niagara Falls facility has two submerged arc furnaces with production capacity of up to 27,000 tons of silicon metal annually.
"The decision to suspend production at the Niagara Falls plant was difficult given the unquestioned commitment of the plant's employees," said Pedro Larrea, Ferroglobe's Chief Executive Officer. "The shutdown of this facility follows our recent announcement regarding the evaluation of various production adjustments to optimize utilization rates and logistics to customers, and to maximize economic efficiency across our global platform."
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