The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.10 - Manufacture of basic iron and steel and of ferro-alloys
100 jobs Number of planned job creations
Announcement Date
27 April 2022
Employment effect (start)
16 May 2022
Foreseen end date
30 December 2022
Description
The executive board of the ABS Group, owned by ABS Sisak, approved the company's investment programme worth a total of EUR 400 million, and part includes the construction of a new iron rolling mill in Sisak and until the end of 2022, it will employ 100 new workers. Danieli Digital Melter's new steel melting technology should enable the direct use of renewable energy sources, and according to the announcements, instead of a conventional electric furnace, solar energy will be used by installing 160,000 square metres of solar panels, which will make ABS a leader in green steel production.
Danieli decided to enter the investment venture of ABS in response to the sharp increase in demand for steel across Europe, and major changes on the global steel market, which began being felt before the war in Ukraine broke out. After the construction of the new rolling mill is completed, Sisak's ABS will also sell those finished products, which will be a big step forward in terms of their further business. The Sisak ironworks is otherwise already achieving constant growth, and operates mainly on foreign markets, from Italy to Turkey and Germany.Â
Eurofound (2022), ABS Sisak, Business expansion in Croatia, factsheet number 106719, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106719.
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