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Will one of Hungary’s biggest industrial companies shut down within weeks?
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Due to a lack of governmental aid, the biggest Hungarian ironworks could close down within weeks. This would indirectly affect tens of thousands of people’s jobs.
The company is currently providing jobs for roughly 4,500 employees, and tens of thousands more of those who are working for the group’s suppliers, subcontractors, and partners. Dunaferr intends to fulfill its contractual obligations and continue to employ its people, writes Index.
Started during socialism
The ironworks was founded in 1950, under the socialist regime, and the whole town of Dunaújváros was built around it. With the approach of the end of state socialism, they were already planning crisis management in the 1980s. Although the transition was not completely smooth, the company continued to operate. The state slowly backed out of the industry, and by 2010, there was partial privatisation.
Read also: Ukrainian mercenaries tried to take over the largest ironworks in Hungary and plan to return?