TRADE unions on Tuesday urged the government to prevent the collapse of Russian-backed Evraz Highveld Steel & Vanadium, SA’s second-largest steel maker.Highveld issued retrenchment notices to 1,800 staff members, Solidarity and the National Union of Metalworkers of SA (Numsa) said in a joint statement on Tuesday.This resulted from the Department of Labour’s nonpayment in a previously agreed training layoff scheme, and also the failure of the state-mandated Industrial Development Corporation (IDC) to provide additional funding of R150m.The funding was critical for the continuation of Highveld as a going concern, and might now result in the complete winding down of the business and the retrenchment of all employees, the unions said."This will have devastating implications for not only the local economy, but for the steel industry and SA as a whole. As representatives of the Highveld labour force, Solidarity and Numsa are urging government not to allow this to happen," they said.Solida...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.