Macedonian ferroalloy manufacturer Silmak is to close the last of its seven stoves on 1 March. A fall in ferroalloy demand and tumbling prices in being blamed for the closure.
Zvonko Stojanovski, Silmak's chief executive officer, said 100 workers will remain in the facility to work on the maintenance. The workforce stood at 700 in September 2008.
The plant's executives hope to restart production when demand and prices improve.
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