Bekaert Announces US Lay Offs

In the US Bekaert Steel has laid off 23 employees at its Rome, Georgia facility, a result of stronger competition from manufacturers in China. The factory, which produces steel cord used in tyre production, began laying off staff on October 1.

“We hope this is short lived,” plant manager Gary Downey told local newspaper the Rome News-Tribune. “The market is slow right now, but we fully anticipate that it is going to return.”

In late August the company also announced the closure of its joint venture steel cord facility in Geelong, Australia, quoting cheaper production costs in other regions as a factor in this decision.