Doosan IMGB, the biggest manufacturer of complex industrial equipment in Romania, with 400 employees, announced that it would suspend its activity starting 2020, Ziarul Financiar daily informed.
The news came after another major industrial complex in Romania, ArcelorMittal Hunedoara, announced the temporary suspension of production invoking the same reasons: shrinking demand and rising energy costs faced by local factories, according to Romania-Insider.com.
The electricity and natural gas prices, paid by industrial consumers, is higher than in other European countries with important operators in steel production, ArcelorMittal officials explained at that time. In 2018, Doosan IMGB reported a turnover of RON 249 million (EUR 55 mln) and about RON 25 mln (EUR 5.2 mln) losses.
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