Vicenza based merchant bar producer AFV Beltrame Group has announced that it will close its Marghera Port based rolling mill which produces angles, flat bars, track shoe profiles and forklift mast profiles. The enterprise has 119 employees.

Although the local government asked the company to reconsider its decision, Beltrame stated said that it has tried everything to re launch the facility all in vain.

It added that, due to the current market environment, it is impossible for the company to ensure profitability in the future as the steel markets do not provide any sign of improvement sign.

Labor union officials have expressed the view that the steel production activities at the Marghera Port mill will be transferred to a new facility located in Argentina, which the group is about to commission.

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(www.steelguru.com)