ABS to halt production for two weeks

As the global economy continues to deteriorate and steel demand declines, combined with weakness in the automobile and construction sectors, Italian Acciaierie Bertoli Safau S.p.A. (ABS) has decided to halt production for two weeks from 2 February 2009.

700 employees will be laid off. The company's sales revenue from 1 July 2007 to 30 June 2008 was approximately €997 million; 45% of the company's production was exported.