Slovalco to Shut Down Primary Aluminium Production by End of September

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(stock photo by TASR)

Ziar nad Hronom, August 17 (TASR) – The Slovalco aluminium plant in Ziar nad Hronom in Banska Bystrica region will definitely halt its production of primary aluminium by the end of September due to high electricity prices and insufficient compensation from the state, TASR learnt on Wednesday from company representative Peter Otapka.

The shutdown of the furnaces will affect 300 employees. Slovalco explained that due to high electricity prices for 2023, aluminium production would be economically unsustainable next year. Further problems have been caused by insufficient state compensation for energy-intensive industry, high prices of emission permits and low aluminium prices.

Slovalco is one of the largest employers in the region. In addition to the 300 Slovalco employees, the shutdown will also impact more than 1,000 external employees in the subcontracting chain.

“The Slovalco aluminium plant is a key supplier not only for Slovak but also for European companies. By stopping its production, Europe will be forced to import aluminium from countries such as China and Russia,” said general manager Milan Vesely, adding that the company is preparing several support measures for the employees affected by the production shutdown.