This is a major setback for the 150 employees working at the plant. Tosyalı Holding announced the withdrawal of its bid for the steel mill, which has not been operational since March 2021, in a joint statement by the ministries of economy and labor.
“We have taken this decision as part of our due diligence activity, particularly in response to the European Union's recent adjustments to its safeguard measures for steel imports from third countries. These measures will expire in June 2026,” Tosyalı Holding explained in the statement. The Ministries of Economy and Labor expressed regret at the decision, which follows the Tosyalı Group's efforts in recent months to restart operations in Dudelange.
“This is the end of the Dudelange plant! Today we stand there and people have nothing, nothing,” stated Stefano Araujo of the OGBL union, describing the situation as “an unmitigated disaster” and emphasizing the seriousness of the situation. Araujo stated that the union regretted that other proposals for a full takeover of the plant had not been considered.
“People need security and income again,” Araujo stated, demanding swift action from trade unions, the staff board, the insolvency administrator, politicians and the Luxembourg business community. He also noted that he was counting on their solidarity at this time.
The withdrawal of Tosyalı Holding's bid raises uncertainties for the future of the plant in Dudelange and deepens the victimization of employees.
Luxembourg Times
Comments
No comment yet.