(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."
Read the original article on RTTNews (http://www.rttnews.com/2965581/ferroglobe-to-suspend-production-at-niagara-falls-ny-impacting-100-employees.aspx)
For comments and feedback: contact editorial@rttnews.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
In This Story
GSMOther Topics
World Markets
Explore Stocks
ExploreMost Popular
- Making A List Of The Best Growth Stocks To Buy Now? 1 Up Over 1200% Year-To-Date
- Top EV Stocks To Watch in November 2020; 1 Set To Announce Earnings Today
- Viatris Will Be the New Kid in Generic Drugs. Don't Expect the Stock to Surge, Analyst Says.
- 3 Reasons to Invest in Miso Robotics Stock as Restaurants Look to Automate